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