Today news
About the same in other media
16.12 - 22:13
A fintech helping banks enter the cloud hits $1 billion valuation in JPMorgan-backed investment
Reading now: 821
cnbc.comLONDON — British fintech start-up Thought Machine has raised $200 million in a fresh round of funding that lifts its valuation above the coveted $1 billion mark.
The cash injection was led by Nyca Partners, a U.S.-based venture capital firm that has previously bet on companies includingAffirm and Revolut, with additional backing coming from major lenders including JPMorgan Chase, Standard Chartered and ING.
Existing investors Lloyds Banking Group, Eurazeo, and SEB also increased their holdings.
Founded in 2014 by former Google engineer Paul Taylor, Thought Machine says its software helps big banks move away from legacy IT infrastructure to a modern, cloud-based platform.
The firm counts many of its big-name banking backers as clients. In
Read more on cnbc.comAbout this in other media
Banks join forces to ensure UK people and firms have access to cash theguardian.com /2 years ago
Zopa co-founders speak out against fintech’s peer-to-peer exit fnlondon.com /2 years ago
APImetrics and Finextra launch open access fintech, open banking and crypto API data dashboard finextra.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
