Thought Machine Scores $83mn Series B Round

UK based digital banking startup Thought Machine has raised a $83mn series B funding round led by Draper Esprit; the company builds cloud based technology for banks and is looking to launch in the U.S. and Asia Pacific; the new capital will help with the global expansion and improve their core technology according to CEO Paul Taylor; Paul Taylor, Chief Executive Officer and Founder of Thought Machine, said to AltFi: “For the past six years, our purpose has been to offer banks a next-generation solution to liberate them from legacy systems which plague the financial services industry. This funding round comes at a pivotal stage in the company’s growth. Thought Machine’s revenues are very healthy, as we see cloud native banking become the most common desired target architecture for the world’s banks.” Altfi

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