Thought Machine develops cloud-based core banking and payments infrastructure designed for modern financial institutions. Its technology enables banks to build, launch, and scale digital financial products without legacy system constraints.
The company’s platform supports public, private, and hybrid cloud deployments and allows banks to configure products such as loans, credit cards, savings accounts, and mortgages using code-based smart contracts.
What Is Thought Machine and What Does It Do?
Thought Machine, founded in 2014, is a London-based banking technology company established by Paul Taylor and Andrew Tarver.
The company develops Vault, a cloud-native core banking platform that allows banks to design and deploy financial products using APIs and modern software architecture. Thought Machine’s technology replaces monolithic legacy cores with flexible, scalable systems.
Thought Machine employs 201-500 people and serves banks, fintechs, and financial institutions across multiple global markets.
How Much Funding Has Thought Machine Raised?
1. Series A
- Amount Raised: £18M
- Date: November 2018
- Lead Investors: Lloyds Banking Group
- Motivation: To develop the Vault core banking platform and expand early market adoption.
2. Series B
- Amount Raised: $125M
- Date: July 2020
- Lead Investors: Eurazeo, Molten Ventures
- Motivation: To scale operations and accelerate global customer acquisition.
3. Series C
- Amount Raised: $200M
- Date: November 2021
- Lead Investors: Nyca Partners
- Motivation: To support rapid growth and expand enterprise deployments.
4. Corporate Round
- Amount Raised: £40M
- Date: February 2022
- Lead Investors: Intesa Sanpaolo
- Motivation: To strengthen strategic partnerships and product capabilities.
5. Series D
- Amount Raised: $160M
- Date: April 2022
- Lead Investors: Temasek Holdings
- Motivation: To drive global expansion and accelerate adoption of cloud-native banking.
Total Funding Raised: $706 Million
Current Valuation: $2.7 Billion (as of May 2022)
Latest Funding Date: April, 2022
Key Investors
1. Temasek Holdings
- Details: A global investment company headquartered in Singapore with a long-term investment approach.
- Investment Focus Areas: Financial services, technology, telecommunications.
- Notable Investments: Thought Machine, Ant Group, Grab, Alibaba.
2. Standard Chartered
- Details: A multinational banking group operating across Asia, Africa, and the Middle East.
- Investment Focus Areas: Banking technology, fintech partnerships, financial services.
- Notable Investments: Thought Machine.
3. Eurazeo
- Details: A global investment firm with exposure across private equity and growth-stage companies.
- Investment Focus Areas: Technology, financial services, consumer platforms.
- Notable Investments: Thought Machine, Farfetch, Doctolib.
4. Molten Ventures
- Details: A European venture capital firm focused on high-growth technology companies.
- Investment Focus Areas: Software, fintech, enterprise technology.
- Notable Investments: Thought Machine, Revolut, UiPath.
5. Nyca Partners
- Details: A fintech-focused venture capital firm based in New York.
- Investment Focus Areas: Banking, payments, financial infrastructure.
- Notable Investments: Thought Machine, Affirm, Wise.
Where Is Thought Machine’s Headquarters?
Thought Machine is headquartered in London, United Kingdom, placing it at the center of Europe’s leading banking and fintech ecosystem.
What’s Next for Thought Machine?
Thought Machine is focused on expanding adoption of its cloud-native core banking platform among Tier-1 and Tier-2 banks globally. The company aims to deepen its presence in Asia-Pacific and emerging markets while continuing to replace legacy banking infrastructure with modern, API-driven systems.
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