3 years ago

Thought Machine Raises $160 Million, Doubles Valuation to $2.7 Billion

  • Thought Machine, a London-based fintech company specializing in cloud-based banking infrastructure, has raised $160 million in a Series D funding round led by Temasek

  • The round also saw participation from Intesa Sanpaolo, Morgan Stanley, and Lloyds TSB Group

  • The funding brings Thought Machine's valuation to $2.7 billion, doubling its previous valuation

  • The company plans to use the new capital to expand into new markets in Asia, specifically Vietnam, Thailand, and Indonesia

  • Thought Machine's cloud-based technology allows banks to scale up servers and processing power, enabling them to offer a wider range of services and improve their efficiency

  • The company boasts a client list of major international banks, including JP Morgan, Lloyds Banking Group, Standard Chartered, and neobank Atom.

      • ProblemFinancial Services

      "Traditional banking systems are clunky, inflexible, and difficult to scale, leading to high costs and slow innovation for banks."

      Solution

      "Thought Machine provides a modern, cloud-native core banking platform that enables banks to be more agile, reduce costs, and accelerate the launch of new products and services."

      Covered on