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Thought Machine valuation, funding and investors

Thought Machine works in core banking platform development, based in London, United Kingdom. Founded in 2014, it has about 531 employees.

VALUATION · TODAY
$1.91B −9% after Series D
Range $234M – $3.66B · Grade D
TODAY
+12 MO
$2.00B
$4.00B
$6.00B
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
Series A $14.4M
Series B $125M
Series C $200M
Series D $160M
ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then
HEADCOUNT · TODAY531 employees
+1%6m growth
+1%1y growth
−5%2y growth
250
500
750
Data from Jan 2021
TODAY
Predicted in 1 yr $1.73B −9% vs today
Predicted next raise $430M if a round comes
Winding-down probability 15%
Last round
Series D · $160M · May 2022
Valuation at last round
$2.70B
Headcount
531 · flat
Grade
D
Founded
2014
How VCMC values companies →

Thought Machine valuation today

VCMC values Thought Machine at $1.9B today, with a range of $234M to $3.7B and a grade of D. The valuation starts from its last funding round, a Series D round in May 2022.

Valuation by date (159 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

Thought Machine: valuation by date, as the model would have shown it on each date
DateValuationRangePredicted in 1 yrPhaseHeadcountTrendGradeWinding-down probability
1 Jan 2014$3.09M$1.12M – $8.48M$3.23M (+5%)before first round–unknownD0%
1 Feb 2014$3.10M$1.13M – $8.51M$3.25M (+5%)before first round–unknownD0%
1 Mar 2014$3.11M$1.13M – $8.54M$3.26M (+5%)before first round–unknownD0%
1 Apr 2014$3.12M$1.14M – $8.57M$3.27M (+5%)before first round–unknownD0%
1 May 2014$3.13M$1.14M – $8.61M$3.28M (+5%)before first round–unknownD0%
1 Jun 2014$3.15M$1.15M – $8.64M$3.30M (+5%)before first round–unknownD0%
1 Jul 2014$3.16M$1.15M – $8.68M$3.31M (+5%)before first round–unknownD0%
1 Aug 2014$3.17M$1.15M – $8.71M$3.32M (+5%)before first round–unknownD0%
1 Sep 2014$3.18M$1.16M – $8.74M$3.34M (+5%)before first round–unknownD0%
1 Oct 2014$3.20M$1.16M – $8.78M$3.35M (+5%)before first round–unknownD0%
1 Nov 2014$3.21M$1.17M – $8.81M$3.36M (+5%)before first round–unknownD0%
1 Dec 2014$3.22M$1.17M – $8.85M$3.38M (+5%)before first round–unknownD0%
1 Jan 2015$3.23M$1.18M – $8.88M$3.39M (+5%)before first round–unknownD0%
1 Feb 2015$3.25M$1.18M – $8.92M$3.40M (+5%)before first round–unknownD0%
1 Mar 2015$3.26M$1.19M – $8.95M$3.41M (+5%)before first round–unknownD0%
1 Apr 2015$3.27M$1.19M – $8.99M$3.43M (+5%)before first round–unknownD0%
1 May 2015$3.28M$1.20M – $9.02M$3.44M (+5%)before first round–unknownD0%
1 Jun 2015$3.30M$1.20M – $9.06M$3.45M (+5%)before first round–unknownD0%
1 Jul 2015$3.31M$1.20M – $9.09M$3.47M (+5%)before first round–unknownD0%
1 Aug 2015$3.32M$1.21M – $9.13M$3.56M (+7%)before first round–unknownD0%
1 Sep 2015$3.34M$1.21M – $9.16M$3.65M (+10%)before first round–unknownD0%
1 Oct 2015$3.35M$1.22M – $9.20M$3.75M (+12%)before first round–unknownD0%
1 Nov 2015$3.36M$1.22M – $9.24M$3.85M (+15%)before first round–unknownD0%
1 Dec 2015$3.38M$1.23M – $9.27M$3.95M (+17%)before first round–unknownD0%
1 Jan 2016$3.39M$1.23M – $9.31M$4.06M (+20%)before first round–unknownD0%
1 Feb 2016$3.40M$1.24M – $9.35M$4.17M (+23%)before first round–unknownD0%
1 Mar 2016$3.41M$1.24M – $9.38M$4.28M (+25%)before first round–unknownD0%
1 Apr 2016$3.43M$1.25M – $9.42M$4.39M (+28%)before first round–unknownD0%
1 May 2016$3.44M$1.25M – $9.45M$4.51M (+31%)before first round–unknownD0%
1 Jun 2016$3.46M$1.26M – $9.49M$4.63M (+34%)before first round–unknownD0%
1 Jul 2016$3.47M$1.26M – $9.53M$4.75M (+37%)before first round–unknownD0%
1 Aug 2016$3.56M$1.30M – $9.78M$4.88M (+37%)before first round–unknownD0%
1 Sep 2016$3.66M$1.33M – $10.0M$5.01M (+37%)before first round–unknownD0%
1 Oct 2016$3.75M$1.37M – $10.3M$5.15M (+37%)before first round–unknownD0%
1 Nov 2016$3.86M$1.40M – $10.6M$5.29M (+37%)before first round–unknownD0%
1 Dec 2016$3.96M$1.44M – $10.9M$5.43M (+37%)before first round–unknownD0%
1 Jan 2017$4.06M$1.48M – $11.2M$5.57M (+37%)before first round–unknownD0%
1 Feb 2017$4.17M$1.52M – $11.5M$5.72M (+37%)before first round–unknownD0%
1 Mar 2017$4.27M$1.56M – $11.7M$5.86M (+37%)before first round–unknownD0%
1 Apr 2017$4.39M$1.60M – $12.1M$6.02M (+37%)before first round–unknownD0%
1 May 2017$4.51M$1.64M – $12.4M$6.18M (+37%)before first round–unknownD0%
1 Jun 2017$4.63M$1.68M – $12.7M$6.34M (+37%)before first round–unknownD0%
1 Jul 2017$4.75M$1.73M – $13.0M$6.51M (+37%)before first round–unknownD0%
1 Aug 2017$4.88M$1.78M – $13.4M$6.69M (+37%)before first round–unknownD0%
1 Sep 2017$5.01M$1.82M – $13.8M$6.87M (+37%)before first round–unknownD0%
1 Oct 2017$5.14M$1.87M – $14.1M$7.05M (+37%)before first round–unknownD0%
1 Nov 2017$5.28M$1.92M – $14.5M$7.24M (+37%)before first round–unknownD0%
1 Dec 2017$5.42M$1.97M – $14.9M$7.43M (+37%)before first round–unknownD0%
1 Jan 2018$5.57M$2.03M – $15.3M$7.63M (+37%)before first round–unknownD0%
1 Feb 2018$5.72M$2.08M – $15.7M$7.84M (+37%)before first round–unknownD0%
1 Mar 2018$5.86M$2.13M – $16.1M$8.03M (+37%)before first round–unknownD0%
1 Apr 2018$6.02M$2.19M – $16.5M$8.25M (+37%)before first round–unknownD0%
1 May 2018$6.18M$2.25M – $17.0M$8.47M (+37%)before first round–unknownD0%
1 Jun 2018$6.34M$2.31M – $17.4M$8.70M (+37%)before first round–unknownD0%
1 Jul 2018$6.51M$2.37M – $17.9M$8.93M (+37%)before first round–unknownD0%
1 Aug 2018$6.69M$2.43M – $18.4M$9.02M (+35%)before first round–unknownD0%
1 Sep 2018$6.87M$2.50M – $18.9M$9.10M (+32%)before first round–unknownD0%
1 Oct 2018$7.05M$2.57M – $19.4M$9.18M (+30%)before first round–unknownD0%
1 Nov 2018$7.24M$2.64M – $19.9M$9.27M (+28%)before first round–unknownD0%
9 Nov 2018$73.5M$48.2M – $201M$132M (+80%)after a round–unknownC0%
1 Dec 2018$76.2M$48.2M – $201M$132M (+73%)after a round–unknownC0%
1 Jan 2019$80.1M$48.2M – $201M$132M (+65%)after a round–unknownC0%
1 Feb 2019$84.2M$48.2M – $201M$132M (+57%)after a round–unknownC0%
1 Mar 2019$88.0M$48.2M – $201M$132M (+50%)after a round–unknownC0%
1 Apr 2019$92.5M$48.2M – $201M$132M (+43%)after a round–unknownC0%
1 May 2019$97.1M$48.2M – $201M$132M (+36%)after a round–unknownC0%
1 Jun 2019$102M$48.2M – $201M$132M (+29%)after a round–unknownC0%
1 Jul 2019$107M$48.2M – $201M$132M (+23%)after a round–unknownC0%
1 Aug 2019$113M$48.2M – $201M$132M (+17%)after a round–unknownC0%
1 Sep 2019$118M$48.2M – $201M$132M (+12%)after a round–unknownC0%
1 Oct 2019$124M$48.2M – $201M$132M (+6%)after a round–unknownC0%
1 Nov 2019$131M$48.2M – $201M$132M (+1%)after a round–unknownC0%
1 Dec 2019$132M$46.5M – $201M$132M (0%)after a round–unknownC0%
1 Jan 2020$132M$44.1M – $201M$132M (0%)after a round–unknownC0%
1 Feb 2020$132M$42.0M – $201M$132M (0%)after a round–unknownC0%
1 Mar 2020$132M$40.0M – $201M$132M (0%)after a round–unknownC0%
1 Apr 2020$132M$38.0M – $201M$132M (0%)after a round–unknownC0%
1 May 2020$132M$36.2M – $201M$132M (0%)after a round–unknownC0%
1 Jun 2020$132M$34.4M – $201M$132M (0%)after a round–unknownC0%
1 Jul 2020$132M$32.7M – $201M$132M (0%)after a round–unknownC0%
29 Jul 2020$556M$391M – $1.2B$832M (+50%)after a round–unknownB0%
1 Aug 2020$557M$391M – $1.2B$832M (+49%)after a round–unknownB0%
1 Sep 2020$577M$391M – $1.2B$832M (+44%)after a round–unknownB0%
1 Oct 2020$596M$391M – $1.2B$832M (+40%)after a round–unknownB0%
1 Nov 2020$617M$391M – $1.2B$832M (+35%)after a round–unknownB0%
1 Dec 2020$638M$391M – $1.2B$832M (+30%)after a round–unknownB0%
1 Jan 2021$661M$391M – $1.2B$832M (+26%)after a round380unknownB0%
1 Feb 2021$684M$391M – $1.2B$832M (+22%)after a round380unknownB0%
1 Mar 2021$705M$391M – $1.2B$832M (+18%)after a round380unknownB0%
1 Apr 2021$730M$391M – $1.2B$832M (+14%)after a round380unknownB0%
1 May 2021$755M$391M – $1.2B$832M (+10%)after a round380unknownB0%
1 Jun 2021$781M$391M – $1.2B$832M (+7%)after a round380unknownB0%
1 Jul 2021$808M$391M – $1.2B$832M (+3%)after a round380unknownB0%
1 Aug 2021$832M$389M – $1.2B$832M (0%)after a round380unknownB0%
1 Sep 2021$832M$372M – $1.2B$832M (0%)after a round380unknownB0%
1 Oct 2021$832M$357M – $1.2B$832M (0%)after a round380unknownB0%
1 Nov 2021$832M$341M – $1.2B$832M (0%)after a round380unknownC0%
30 Nov 2021$1.0B$869M – $1.5B$1.3B (+30%)after a round380unknownA0%
1 Dec 2021$1.0B$869M – $1.5B$1.3B (+30%)after a round380unknownA0%
1 Jan 2022$1.0B$869M – $1.5B$1.3B (+27%)after a round380unknownA0%
1 Feb 2022$1.0B$869M – $1.5B$1.3B (+24%)after a round480upA0%
1 Mar 2022$1.1B$869M – $1.5B$1.3B (+22%)after a round480upA0%
1 Apr 2022$1.1B$869M – $1.5B$1.3B (+19%)after a round480upA0%
1 May 2022$1.1B$869M – $1.5B$1.3B (+16%)after a round480upA0%
19 May 2022$2.7B$2.3B – $4.0B$3.5B (+30%)after a round480upA0%
1 Jun 2022$2.7B$2.3B – $4.0B$3.5B (+29%)after a round480upA0%
1 Jul 2022$2.8B$2.3B – $4.0B$3.5B (+26%)after a round480upA0%
1 Aug 2022$2.8B$2.3B – $4.0B$3.5B (+23%)after a round480unknownA0%
1 Sep 2022$2.9B$2.3B – $4.0B$3.5B (+20%)after a round480unknownA0%
1 Oct 2022$3.0B$2.3B – $4.0B$3.5B (+18%)after a round480unknownA0%
1 Nov 2022$3.0B$2.3B – $4.0B$3.5B (+15%)after a round480unknownA0%
1 Dec 2022$3.1B$2.3B – $4.0B$3.5B (+13%)after a round480unknownA0%
1 Jan 2023$3.2B$2.3B – $4.0B$3.5B (+10%)after a round480unknownA0%
1 Feb 2023$3.3B$2.3B – $4.2B$3.6B (+9%)after a round560upA0%
1 Mar 2023$3.4B$2.3B – $4.2B$3.6B (+7%)after a round560upA0%
1 Apr 2023$3.5B$2.3B – $4.2B$3.6B (+4%)after a round560upA0%
1 May 2023$3.6B$2.3B – $4.2B$3.6B (+1%)after a round560upA0%
1 Jun 2023$3.6B$2.3B – $4.2B$3.6B (0%)after a round560upA0%
1 Jul 2023$3.6B$2.3B – $4.2B$3.6B (0%)after a round560upA0%
1 Aug 2023$3.6B$2.1B – $4.2B$3.6B (0%)after a round560unknownB0%
1 Sep 2023$3.6B$2.0B – $4.2B$3.6B (0%)after a round560unknownB0%
1 Oct 2023$3.6B$1.9B – $4.2B$3.6B (0%)after a round560unknownB0%
1 Nov 2023$3.6B$1.9B – $4.2B$3.6B (0%)after a round560unknownB0%
1 Dec 2023$3.6B$1.8B – $4.2B$3.6B (0%)after a round560unknownB0%
1 Jan 2024$3.6B$1.7B – $4.2B$3.6B (0%)after a round560unknownB0%
1 Feb 2024$3.6B$1.6B – $4.2B$3.6B (0%)after a round560unknownB0%
1 Mar 2024$3.6B$1.6B – $4.2B$3.6B (0%)after a round560unknownB0%
1 Apr 2024$3.7B$1.5B – $4.2B$3.7B (0%)after a round580flatB0%
1 May 2024$3.7B$1.4B – $4.2B$3.7B (0%)after a round580flatB0%
1 Jun 2024$3.7B$1.3B – $4.2B$3.6B (0%)after a round580flatB0%
1 Jul 2024$3.7B$1.2B – $4.2B$3.6B (-1%)after a round580flatC0%
1 Aug 2024$3.7B$1.2B – $4.2B$3.7B (0%)after a round580unknownC0%
1 Sep 2024$3.2B$1.1B – $4.1B$2.9B (-10%)after a round560flatC18%
1 Oct 2024$3.2B$1.1B – $4.1B$2.9B (-10%)after a round560flatC18%
1 Nov 2024$3.2B$1.0B – $4.1B$2.9B (-11%)after a round560flatC18%
1 Dec 2024$2.8B$956M – $4.1B$2.3B (-18%)after a round540flatC35%
1 Jan 2025$2.8B$908M – $4.1B$2.3B (-18%)after a round540flatC35%
1 Feb 2025$2.8B$863M – $4.1B$2.2B (-19%)after a round540flatC35%
1 Mar 2025$2.7B$824M – $4.1B$2.2B (-20%)after a round540flatC35%
1 Apr 2025$2.7B$783M – $4.1B$2.2B (-20%)after a round540flatC35%
1 May 2025$2.7B$746M – $4.1B$2.1B (-21%)after a round540flatC35%
1 Jun 2025$2.6B$709M – $4.1B$2.0B (-21%)after a round540flatC35%
1 Jul 2025$2.5B$675M – $4.1B$2.0B (-21%)after a round540flatC35%
1 Aug 2025$2.1B$638M – $4.1B$1.6B (-25%)after a round527flatC48%
1 Sep 2025$2.1B$605M – $4.1B$1.6B (-25%)after a round524downC49%
1 Oct 2025$2.1B$576M – $4.0B$1.6B (-24%)after a round524flatC45%
1 Nov 2025$2.2B$548M – $4.0B$1.7B (-23%)after a round524flatC41%
1 Dec 2025$2.2B$522M – $4.0B$1.7B (-22%)after a round526flatD38%
1 Jan 2026$2.2B$496M – $4.0B$1.8B (-21%)after a round526flatD35%
1 Feb 2026$2.3B$471M – $3.9B$1.8B (-20%)after a round526flatD32%
1 Mar 2026$2.3B$450M – $3.9B$1.9B (-19%)after a round526flatD30%
1 Apr 2026$2.3B$428M – $3.9B$1.9B (-18%)after a round526flatD27%
1 May 2026$2.4B$407M – $3.8B$2.0B (-17%)after a round526flatD25%
1 Jun 2026$2.4B$386M – $3.8B$2.0B (-14%)after a round518flatD23%
1 Jul 2026$2.4B$367M – $3.8B$2.1B (-13%)after a round518flatD21%
1 Aug 2026$2.4B$351M – $3.7B$2.1B (-12%)after a round530flatD20%
1 Sep 2026$2.4B$333M – $3.7B$2.2B (-12%)after a round530flatD18%
1 Oct 2026$2.5B$317M – $3.7B$2.2B (-11%)after a round531flatD17%
24 Oct 2026$1.9B$234M – $3.7B$1.7B (-9%)after a round531flatD15%

Key facts about Thought Machine

Founded
2014
Headquarters
London, United Kingdom
Employees
about 531 +1% in a year
Total raised
$499M
Funding rounds
4
Last round
Series D May 2022

Thought Machine was founded in 2014 by Paul Taylor.

Thought Machine funding history

Thought Machine has 4 funding rounds on record, from Nov 2018 to May 2022, $499M in total. The latest disclosed valuation is $2.70B post-money (Series D, May 2022).

  1. Series D 18 May 2022

    Led by Temasek; with Intesa Sanpaolo, Morgan Stanley, Eurazeo, ING Ventures, JPMorgan Chase, Lloyds Banking Group, SEB.

    Sources: thoughtmachine.net, taylorwessing.com, finovate.com and 5 more

    $160M

    $2.70B post-money

  2. Series C 29 Nov 2021

    Led by Nyca Partners; with ING Ventures, JPMorgan Chase Strategic Investments, SC Ventures, Lloyds Banking Group, British Patient Capital, Eurazeo, SEB, Molten Ventures, Backed, IQ Capital.

    Sources: thoughtmachine.net, londonbusinessjournal.co.uk, british-business-bank.co.uk and 4 more

    $200M

    $1.00B post-money

  3. Series B 28 Jul 2020

    Led by Eurazeo, Molten Ventures; with British Patient Capital, SEB, Lloyds Banking Group, IQ Capital, Backed.VC, Playfair.

    Sources: thoughtmachine.net, british-business-bank.co.uk, en.wikipedia.org and 1 more

    $125M

  4. Series A 8 Nov 2018

    Led by Lloyds Banking Group.

    Sources: finovate.com

    $14M

Thought Machine investors

17 investors have backed Thought Machine; Lloyds Banking Group, Eurazeo and Molten Ventures and 2 more led at least one round.

  • Lloyds Banking Group lead, 4 rounds
  • Eurazeo lead, 3 rounds
  • Nyca Partners lead
  • Temasek lead
  • SEB 3 rounds
  • British Patient Capital 2 rounds
  • ING Ventures 2 rounds
  • Backed
  • Intesa Sanpaolo
  • JPMorgan Chase
  • JPMorgan Chase Strategic Investments
  • Morgan Stanley

What Thought Machine does

Thought Machine works in tech companies, with 16 recorded offerings and customers in financial technology and financial services.

Thought Machine Group Limited is a British technology company that develops and provides cloud-native core banking and payments technology for banks and financial institutions. The company offers a cloud-based core banking platform and a payments processing platform, supporting the development and management of financial products such as accounts, credit cards, loans, and mortgages, as well as payment processing for various payment schemes and regions. Thought Machine also delivers cloud-native, microservices-based solutions and utilizes technologies such as ISO 20022 and real-time data streaming. The company operates internationally, serving clients in Europe, Asia, North America, Australasia, and the Middle East.

Description from Veridion's company data.

Products and services

  • Core Banking Platform Development
  • Core Banking Platform Configuration
  • Core Banking Platform Integration
  • Payments Processing Platform Development
  • Payments Processing Platform Integration
  • Financial Product Enablement Services
  • Current Account Management Services
  • Savings Account Management Services
  • Credit Card Issuance Services
  • Loan and Mortgage Management Services
  • Real-Time Data Streaming Solutions
  • API-Based Banking Integration Services
  • Multi-Region Payment Processing Services
  • Custom Financial Product Development
  • Legacy Infrastructure Migration Services
  • Operational Resilience Solutions

Markets

  • Financial Technology
  • Financial Services

Technology

  • Cloud-Native Architecture
  • Real-Time Data Streaming
  • ISO 20022
  • Microservices Architecture

Business model

  • Business-to-Business
  • Software-as-a-Service
  • Enterprise

Industry codes (NAICS)

  • 513210 Software Publishers 100% match

Questions about Thought Machine

What is Thought Machine worth?

Valuation $1.9B (range $234M to $3.7B), as of 24 Oct 2026. The last disclosed valuation was $2.70B (Series D, May 2022).

Has Thought Machine raised money?

Thought Machine has 4 funding rounds on record, from Nov 2018 to May 2022, $499M in total. The latest disclosed valuation is $2.70B post-money (Series D, May 2022).

Who has invested in Thought Machine?

Lloyds Banking Group, Eurazeo, Molten Ventures, Nyca Partners, Temasek and SEB, and 11 more. Lead investors include Lloyds Banking Group, Eurazeo, Molten Ventures and Nyca Partners.

How many people work at Thought Machine?

About 531, up 1% over the last year. Headcount grew from 380 in Jan 2021 to 531 in Sep 2026.

What does Thought Machine do?

Thought Machine works in tech companies, with 16 recorded offerings and customers in financial technology and financial services. Its main offerings are core banking platform development, core banking platform configuration and core banking platform integration.

When was Thought Machine founded, and where is it based?

Thought Machine was founded in 2014 and is based in London, United Kingdom. It has about 531 employees, up 1% over the last year.