Total amount raised
$562.8 Million
Latest funding date
5/1/2022
Location
Thought Machine has successfully raised funding over seven rounds, with the latest being a Venture - Series Unknown round. The company is backed by 17 investors, including notable names like Eurazeo and Lloyds Banking Group.
Keep reading to explore the intricacies of Thought Machine's fundraising journey and the investors backing this innovative fintech platform.
What Is Thought Machine?
Thought Machine is a fintech company based in London, England, specializing in cloud-native technology to revolutionize core banking. The company operates in multiple industries, including banking, enterprise software, financial services, fintech, and IT infrastructure.
Founded with a mission to modernize banking technology, Thought Machine has grown to employ between 501 and 1000 people. Their flagship products, Vault Core and Vault Payments, are trusted by leading banks globally for their flexibility and operational resilience.
How Much Funding Has Thought Machine Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their cloud-native banking technology.
- Series A
- Amount Raised: USD 23,400,000
- Date: November 2018
- Lead Investors: Lloyds Banking Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their core banking platform and expand their market presence.
- Series B
- Amount Raised: USD 125,000,000
- Date: July 2020
- Lead Investors: Eurazeo, Molten Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance their product offerings.
- Series C
- Amount Raised: USD 200,000,000
- Date: November 2021
- Lead Investors: Nyca Partners
- Valuation at Round: USD 1,350,000,000
- Motivation Behind the Round: To achieve unicorn status and further scale the company's operations and technological capabilities.
- Corporate Round
- Amount Raised: USD 54,000,000
- Date: February 2022
- Lead Investors: Intesa Sanpaolo
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's mission to revolutionize core banking with cloud-native technology.
- Series D
- Amount Raised: USD 160,000,000
- Date: May 2022
- Lead Investors: Temasek Holdings
- Valuation at Round: USD 2,700,000,000
- Motivation Behind the Round: To support global expansion, particularly in Asia Pacific and Latin America, and to continue investing in the core banking platform and new product lines.
- Series Unknown
- Amount Raised: USD 57,600,000
- Date: July 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance their technological capabilities and expand their market reach.
Total Amount Raised: USD 620,000,000. Current Valuation: USD 2,700,000,000.
Key Investors
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. It manages a net portfolio value of S$381 billion (US$283 billion) as of March 31, 2021.
- Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate, life sciences & agribusiness, energy & resources.
- Notable Investments: Alibaba, Airbnb, Ant Financial.
- Intesa Sanpaolo
- Details: Intesa Sanpaolo is an Italian banking group and one of the largest in Europe. It is known for its significant role in the European banking sector.
- Investment Focus Areas: Banking technology, digital transformation, financial services.
- Notable Investments: Various fintech and banking technology companies.
- Morgan Stanley
- Details: Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management, and investment management services. It is headquartered in New York City.
- Investment Focus Areas: Financial services, technology, investment banking, wealth management.
- Notable Investments: Facebook, Alibaba, various other tech and financial companies.
- Lloyds Banking Group
- Details: Lloyds Banking Group is a major British financial institution. It offers a wide range of banking and financial services primarily in the UK.
- Investment Focus Areas: Retail and commercial banking, insurance, wealth management.
- Notable Investments: Primarily focused on UK-based financial services and fintech.
- Nyca Partners
- Details: Nyca Partners is a venture capital firm specializing in fintech and financial services. It is based in New York City.
- Investment Focus Areas: Fintech, financial services.
- Notable Investments: Acorns, Affirm, Digit.
What's Next for Thought Machine?
Thought Machine is poised for significant growth as it expands into new markets like Vietnam, Thailand, and Indonesia. The company's cloud-native banking platform, Vault Core, is set to revolutionize business and corporate banking sectors, as well as the mortgage industry. With a recent valuation of USD 2.7 billion, the opportunities are vast and promising.
Future fundraising seems likely, given the company's rapid growth and substantial market confidence. The recent USD 160 million Series D round indicates strong investor interest, which could pave the way for further investments. However, Thought Machine will need to navigate regulatory challenges and fierce competition from other fintech companies to maintain its momentum.
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