Thought Machine raised £81.1 million in its Series E round, according to the core banking software company’s audited 2025 accounts.
The round included £51 million raised from existing investors in July 2025 through a mix of equity and convertible loan notes.
This comprised £41.4 million in convertible loan notes and £9.7 million from the issue of Series C3 shares.
The Series E round closed in May 2026 with a further £30 million transaction involving a new investor.
That transaction included £9 million in primary funding through convertible loan notes.
The remaining £21 million was a secondary share sale that provided liquidity for early employees.
The accounts did not name the new investor or the existing shareholders that took part in the Series E round.
Thought Machine’s previously disclosed backers include Temasek, Intesa Sanpaolo, Morgan Stanley, Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group and SEB.
Thought Machine’s revenue rose to £74.8 million in 2025 from £47.6 million a year earlier.
Its operating loss narrowed to £42.0 million from £69.4 million in 2024, helped by new licence agreements, client-sponsored development projects and improved cost management.
The company crossed US$100 million in revenue in 2025 as it secured more core banking work with large financial institutions.
Thought Machine develops Vault, a cloud-native core banking platform used by retail and business banking clients.
Featured image: Edited by Fintech News Singapore, based on image by kuruart74 via Magnific
