What is Thought Machine?
Founded in 2014 and headquartered in London, Thought Machine specializes in developing cloud-native core banking and payments solutions. Its flagship products, Vault Core and Vault Payments, are built on a microservices and API-first architecture, designed to replace outdated legacy IT systems in financial institutions. Vault Core enables banks to configure and deploy modern financial products such as loans, credit cards, and mortgages, while Vault Payments offers comprehensive global payment processing capabilities. The company serves a diverse clientele, including major global banks like JPMorgan Chase and Standard Chartered, as well as fintech firms, positioning itself as a leader in banking technology transformation.
How much funding has Thought Machine raised?
Thought Machine has raised a total of $507M across 4 funding rounds:
Series A
$22M
Series B
$125M
Series C
$200M
Series D
$160M
Series A (2018): $22M with participation from Lloyds Banking Group
Series B (2020): $125M led by Playfair Capital, IQ Capital, Backed, Draper Esprit plc, Eurazeo Growth, British Patient Capital, Lloyds Banking Group, and Skandinaviska Enskilda Banken (SEB)
Series C (2021): $200M supported by Lloyds Banking Group, Nyca Partners, Standard Chartered, Revolut, JPMorgan Chase, and Eurazeo
Series D (2022): $160M featuring Morgan Stanley, Skandinaviska Enskilda Banken (SEB), Intesa Sanpaolo, JPMorgan Chase, Temasek, and Lloyds Banking Group
Key Investors in Thought Machine
Morgan Stanley
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, wealth management, and investment management services.
Lloyds Banking Group
Lloyds Banking Group is a UK-based financial services company offering retail banking, commercial services, life insurance, pensions, and wealth management.
JPMorgan Chase
JPMorgan Chase is a leading global financial services firm offering investment banking, commercial banking, asset management, and consumer banking services.
What's next for Thought Machine?
With its substantial enterprise-level funding, Thought Machine is well-positioned for accelerated global expansion and further product development. The recent strategic investment signals a strong endorsement of its technology and business model, likely enabling the company to enhance its platform capabilities, scale its operations, and deepen its market penetration. This capital infusion will be crucial for Thought Machine as it continues to drive the digital transformation of the banking industry, helping more financial institutions transition to agile, cloud-native systems.
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