Thought Machine
London
Enterprise Capital Funds programme
Thought Machine is a developer of a cloud-native core banking platform designed to solve banking problems.
By running this technology in the cloud banks benefit from increased reliability, innovation potential, security and scalability. Banks do not need to install any software or hardware on premises and the software can be maintained, upgraded and delivered remotely.
Since 2016, the British Business Bank has invested multiple times in Thought Machine through its Enterprise Capital Funds Programme and British Patient Capital, These investments have been made via fund managers IQ Capital, Molten Ventures and Evolution Equity, as well as via British Patient Capital’s coinvestment programme.
Thought Machine is one of the unicorns in the Bank’s underlying portfolio and has now opened an office in New York and aims for further international expansion as the company executes its global strategy while continuing to develop its software platform, with a focus on expanding its product set and target markets.
Download The Power of 10:10 Year Impact Report
The Power of 10:10 Year Impact Report sets out how the British Business Bank has supported more than 200,000 businesses to prosper and grow over the last decade.
33,000
businesses supported
336,000
jobs supported
£30bn
additional turnover expected to be created
£14bn
additional GVA expected to be created
89,000
new jobs expected to be created