Core banking technology firm Thought Machine has raised an additional $42mn Series B funding.
In Brief:
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The round now stands at $125mn.
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It will close in early August.
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The extension included British Patient Capital, Eurazeo Growth and SEB.
What does this mean?
Thought Machine, part of FinTech Alliance, helps banks overhaul their core systems using cloud-based technology with its system Vault. The company is hiring new staff and will look to expand its product compatibility.