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Thought Machine Raises $160M In Series D Funding Round – Doubling Valuation To $2.7Bn And Accelerating Plans To Bring World’s Banks Onto Cloud Technology

May 18, 2022•about 3 years ago

Amount Raised

$160 Million

Round Type

series d

London

Description

Thought Machine, the cloud native banking technology company, today announces it has closed its series D funding round, led by Temasek, the global investment company headquartered in Singapore, with participation from Intesa Sanpaolo and Morgan Stanley. Existing investors following-on in this round include: Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB.

Company Information

Company

Thought Machine

Location

London, Ontario, Canada

About

Thought Machine was founded in 2014 with a mission to enable banks to deploy modern systems and move away from the legacy IT platforms that plague the banking industry. We do this through our cloud native core banking platform, Vault. This next generation system has been written from scratch as an entirely cloud native platform. It does not contain a single line of code which is legacy, or pre-cloud. We are currently a team of more than 500 people spread across offices in London, New York, Singapore, Sydney, and Melbourne, and have raised more than $340m in funding at a $1bn+ valuation. For more information visit thoughtmachine.net

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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