Thought Machine Raises $200 Million in Series C Funding Round

Source: Fanny 2021-11-30

Fazzaco learned that Thought Machine, the cloud native core banking technology company, has completed its $200 million series C funding round.

The latest funding round was led by Nyca Partners with participation from ING Ventures, JPMorgan Chase, Standard Chartered Ventures, Lloyds Banking Group, British Patient Capital, Eurazeo, SEB, Molten Ventures (formerly Draper Esprit), Backed and IQ Capital.

According to the official press release, the company will utilise the new capital to continue developing and expanding Vault. The firm intends to further develop Vault and its Universal Product Engine, which allows for unparalleled flexibility in product development and configuration. In addition, the company will expand its international reach, strengthening its five global offices and targeting new key markets to accelerate the adoption of cloud native core banking globally.

"We are delighted to have earned the support of our new and existing investors as we continue to move the world’s leading banks into the cloud. We set out to eradicate legacy technology from the industry and ensure that all banks deployed on Vault can succeed and deliver on their ambitions. These new funds will accelerate the delivery of Vault into banks around the world who wish to implement their future vision of financial services," commented Paul Taylor, Chief Executive Officer and Founder at Thought Machine.

Thought Machine

Series C Funding

financial technology

Thought Machine Raises $200 Million in Series C Funding Round

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