Thought Machine raises $42M (London)

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Thought Machine, a cloud native banking technology firm, has raised an additional $42 million as part of its Series B round.

The round extension will close in early August, and is led by Eurazeo Growth, with British Patient Capital and SEB also coming in as new investors, Thought Machine said in a statement.

The new investment brings the round’s total value to $125 million, following $83 million raised by Thought Machine in March this year. Investors in March included Draper Esprit, Lloyds Banking Group, IQ Capital, Backed, and Playfair Capital.

Thought Machine is headquartered in London and has an office in Singapore. The company publicly names SEB, Lloyds Banking Group, Atom bank and Standard Chartered Bank as clients.