18 May 2022

Thought Machine reaches $2.7bn valuation

Written By FinTech Alliance

Thought Machine reaches $2.7bn valuation

Thought Machine, which builds core banking in the cloud, has doubled its valuation to $2.7bn. 

In Brief: 

The cloud native banking technology company has announced a $160mn Series D round. 

The round was led by Temasek, and included Intesa Sanpaolo and Morgan Stanley – plus existing investors. 

Thought Machine’s valuation is now $2.7bn – after its Series C round 

What does this mean? 

The firm says it will use the new funding to continue on its global expansion plans. Currently Thought Machine has expanded from its London HQ across New York, Singapore and Australia and has high profile partnerships with LLoyds Banking Group and Standard Chartered among others. 

‍CEO Paul Taylor commented: “This new round of funding bringing Temasek, Morgan Stanley, and Intesa Sanpaolo into the business is our statement of intent: we intend to become the leader in core banking technology, and are being deployed by the biggest, most successful banks around the world. 

“We will use this new capital to accelerate our expansion plans, serve more clients around the world, and continuously refine the capabilities of our core banking platform and other products.”

Read more here.

Up Next ...
29 June 2022

Bank of London partners with SAP Fioneer

The Bank of London, the UK’s tech-led clearing bank, has ...

29 June 2022

Wise announces 33% revenue growth

Money transfer app Wise, formerly TransferWise, has announced a 33% ...

29 June 2022

DirectID partners with Shieldpay

UK payments FinTech Shieldpay has partnered with FinTech Alliance company ...

28 June 2022

Gaining a Competitive Advantage in Fintech From Your Choice of Tech Stack

Written By: Erlang Solutions

In this article, we outline how your choice of a fintech stack can give you a crucial competitive advantage.

More in Banking

JP Morgan adds half a million customers to UK Chase offering

27 May 2022

JP Morgan Chase has announced that its entry into the ...

LHV bank opens second UK hub in Yorkshire

26 May 2022

LHV UK, which provides banking services to FinTech companies, has ...

Modulr raises $108mn funding

18 May 2022

 Payments business Modulr has raised $108mn Series C funding. In Brief: Modulr ...

Westpac, 10x Banking partner for new platform

18 May 2022

Technology provider 10x Banking is providing the core technology for ...

White Papers Banking

How to Choose the Right Core Banking Provider: 5 Key Takeaways

03 March 2022

Market pressure, changing consumer expectations and rapid developments in technology; combined, thes...

White Papers Banking

McKinsey’s Global Banking Annual Review

20 December 2021

Updated annually, our Global Banking Annual Review offers the best of our research and insights into...

White Papers Banking

Banking as a Service: the future of financial services

09 December 2021

Traditional banking business models are outdated and costly. So how can banks adopt a better model t...

White Papers Banking

Why technology modernization should be a priority for all financial institutions

03 December 2021

This paper approaches the question of why technology modernization is a priority for all financial i...

There are no Events in this category