Thought Machine adds a $42 million extension to its series B backed by Eurazeo Growth

Thought Machine, a London, UK-based SAAS developed for banks, announced that it completed an extension of its series By round with an aditional of $42 million in funding

The extension was led by Eurazeo Growth, and included strategic backing from Patient Capital and Thought Machine customer SEB.

The initial Series B round was led by Draper Esprit and joined by Lloyds Banking Group, IQ Capital, Backed and Playfair Capital.

Thought Machine, founded in 2014 by former Google engineer Paul Taylor, built a product called Vault, a cloud-native core system specifically designed for banks constrained by legacy tech. The company also announced working on an ‘advanced payments solution'.