# Thought Machine Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/thought-machine-group

- Industry: Software
- Headquarters: London, UK
- Website: www.thoughtmachine.net
- Total disclosed funding: $436M
- Latest round: Series D (Mar 14, 2022)
- Investors on record: 17

## About

Based in London, UK, and founded in 2014 by its CEO, Paul Taylor, Thought Machine Group Limited operates as a fintech company that develops a cloud-based banking platform. In November 2021, Thought Machine Group Limited raised USD 200 million in series C funding led by NYCA Partners, with participation from ING Ventures, JPMorgan Chase, and SC Ventures. As of 2022, the company has a team of more than 500 people spread across offices in London, Singapore, Sydney, Melbourne, and New York. 

Thought Machine Group Limited's platform provides a digital bank vault, a cloud-based banking platform that operates banking products such as current accounts, loans, savings, mortgages, and credit cards. The company's client base includes JP Morgan Chase, Monese, Standard Chartered, Curve, Atom Bank, and Arvest.

Thought Machine Group Limited will use the series C funding to continue developing and expanding Vault and its Universal Product Engine, expand its international reach, strengthen its five global offices, and target new key markets to accelerate the adoption of cloud-native core banking globally.

## Funding rounds

- Series D, Mar 14, 2022, $126M — Morgan Stanley Investment Management, Temasek Holdings, Eurazeo, Intesa Sanpaolo, Lloyds Banking Group, JP Morgan Asset Management, SEB, ING Ventures
- Series C, Aug 20, 2021, $203M — Molten Ventures, Eurazeo, Lloyds Banking Group, JP Morgan Asset Management, SEB, IQ Capital, Connection Capital, Nyca, Backed VC, ING Ventures, British Patient Capital, SC Ventures
- Series B, Aug 10, 2020, $49M — Eurazeo, SEB Asset Management, British Patient Capital
- Series B, May 11, 2020, $58M — Molten Ventures, Lloyds Banking Group, IQ Capital, Playfair Capital, Backed VC
- Seed, Jun 1, 2016 — IQ Capital, Playfair Capital, Backed VC

## Investors

- IQ Capital (https://capitalatlas.ai/funds/iq-capital) — Seed, Series B, Series C
- Playfair Capital (https://capitalatlas.ai/funds/playfair-capital) — Seed, Series B
- Backed VC (https://capitalatlas.ai/funds/backed-vc) — Seed, Series B, Series C
- Molten Ventures (https://capitalatlas.ai/funds/molten-ventures) — Series B, Series C
- Lloyds Banking Group — Series B, Series C, Series D
- Eurazeo (https://capitalatlas.ai/funds/eurazeo) — Series B, Series C, Series D
- SEB Asset Management (https://capitalatlas.ai/funds/seb-asset-management) — Series B
- British Patient Capital — Series B, Series C
- JP Morgan Asset Management (https://capitalatlas.ai/funds/jp-morgan-asset-management) — Series C, Series D
- SEB — Series C, Series D
- Connection Capital — Series C
- Nyca (https://capitalatlas.ai/funds/nyca) — Series C
- ING Ventures (https://capitalatlas.ai/funds/ing-ventures) — Series C, Series D
- SC Ventures — Series C
- Morgan Stanley Investment Management — Series D
- Temasek Holdings — Series D
- Intesa Sanpaolo — Series D