Thought Machine lands $40M funding from bank, surpasses $100M in annual revenue
Thought Machine, one of the UK's most valuable fintechs, is set to unveil that it has received £30m ($41m) funding from a "tier 1" bank later this year, as its annual revenues surpass $100m for the fi... The boss of the UK fintech also said the conditions "were difficult" for a Thought Machine London IPO. Fintech Thought Machine lands $40M funding from bank, surpasses $100M in annual revenue The boss of the UK fintech also said the conditions "were difficult" for a Thought Machine London IPO.
Key Takeaways
- John Reynolds 3 hours ago Share Share Send email Copy link Thought Machine , one of the UK's most valuable fintechs, is set to unveil that it has received £30m ($41m) funding from a "tier 1" bank later this year, as its annual revenues surpass $100m for the first time, it said.
Thought Machine is one of a new breed of fintechs which provide cloud-based banking services.
- The UK fintech says it has raised an enlarged £80m in total.
8m as well as £30m from a new unnamed "Tier 1" bank, which is also a client, Paul Taylor, Thought Machine CEO and founder, said.
- " Taylor declined to give a valuation following its latest funding round.
- Many of its investors are also clients.
Thought Machine says its latest accounts show it has surpassed $100m in revenues in 2025, marking a 57 per cent increase on the year before.
- Thought Machine, which employs around 530 people, increasing headcount by over 90 in the year ending 2025, is a UK-headquartered business.
Stats & Key Facts
- #Thought Machine, one of the UK's most valuable fintechs, is set to unveil that it has received £30m ($41m) funding from a "tier 1" bank later this year, as its annual revenues surpass $100m for the fi...
- #Fintech Thought Machine lands $40M funding from bank, surpasses $100M in annual revenue The boss of the UK fintech also said the conditions "were difficult" for a Thought Machine London IPO.
- #John Reynolds 3 hours ago Share Share Send email Copy link Thought Machine , one of the UK's most valuable fintechs, is set to unveil that it has received £30m ($41m) funding from a "tier 1" bank later this year, as its annual revenues surpass $100m for the first time, it said.
- #Last year, filings showed that Thought Machine raised £44.
The boss of the UK fintech also said the conditions "were difficult" for a Thought Machine London IPO. Fintech Thought Machine lands $40M funding from bank, surpasses $100M in annual revenue The boss of the UK fintech also said the conditions "were difficult" for a Thought Machine London IPO. John Reynolds 3 hours ago Share Share Send email Copy link Thought Machine , one of the UK's most valuable fintechs, is set to unveil that it has received £30m ($41m) funding from a "tier 1" bank later this year, as its annual revenues surpass $100m for the first time, it said.
The boss of the UK fintech also said the conditions "were difficult" for a London IPO, with an IPO at least two years away, and criticised valuations as a performance metric, saying revenues are a better measure. Thought Machine is one of a new breed of fintechs which provide cloud-based banking services. Others in the space include 10x Banking, founded by former Barclays CEO Antony Jenkins, Mambu and Starling Bank's Engine.
Thought Machine, which provides services for traditional banks and challenger banks, counts Lloyds, JP Morgan Chase, Intesa Sanpaolo, the Italian bank, and Danish challenger bank Lunar as clients. Last year, filings showed that Thought Machine raised £44. 8m in a funding round in July 2025.
For more details please read the original article at Tech.eu.
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