Core banking technology business Thought Machine has been valued at over $1bn following a $200mn raise.
In Brief:
The Series C round was led by Nyca partners.
It also included customer Lloyds Banking Group, as well as ING Ventures, JPMorgan Chase Strategic Investments and Standard Chartered Ventures.
This comes as Thought Machine moved to a larger London headquarters in October 2021.
What does this mean?
Thought Machine plans to use the funding to continue the expansion of Vault, its “cloud native core banking engine”, as well as its Universal Product Engine. Having already worked with banks in Europe, the US and Asia, Thought Machine intends to expand its international reach and accelerate the adoption of cloud native core banking around the world.
Find out more about Thought Machine with our Founder interview here.
