Co-investment in $200m series C funding round for fast-growing UK fintech providing cloud native core banking solution to established and challenger banks.
Thought Machine is a cloud-native core banking platform serving large, global banks and newer 'challenger' banks.
Its mission is to create technology that can 'run the world’s banks according to the best designs and software practices of the modern age, ridding the world’s banks of the problems generated by poor technology running on legacy infrastructure'.
The company was founded in 2014 by Paul Taylor who sold his former company, Rhetorical Systems, to Google. Many of Thought Machine's senior team members bring Google experience to the company.
Thought Machine has scaled rapidly and is backed by some of the world's leading tech investors. It has successfully acquired blue-chip clients in both the traditional and challenger bank spaces, including JPMorgan Chase, Lloyds Bank, Standard Chartered, Atom Bank, Curve, Intesa Sanpaolo and Al Rahji Bank.
This co-investment presented a rare opportunity for private investors to access a fast-growing tech business at this stage of growth. It was arranged via our relationship with the team at IQ Capital Partners, one the UK's most respected deeptech investors.
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