Thought Machine adds $42mn funding

July 28, 2020 | Banking

Written by FinTech Alliance

Thought Machine adds $42mn funding

Core banking technology firm Thought Machine has raised an additional $42mn Series B funding.

In Brief:

  • The round now stands at $125mn.

  • It will close in early August.

  • 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.

 

Read more here.
 

 

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