Thought Machine Raises £30M in Funding

Thought Machine Raises £30M in Funding

Thought Machine, a London-based core banking technology provider, has secured £30 million in funding. This transaction, completed on May 27, 2026, comprises £9 million in primary funding through convertible loan notes and £21 million in a secondary market transaction to facilitate the sale of employee share options.

The funding was provided by an undisclosed tier 1 bank that serves as both an investor and a client for the company.

The company plans to use the capital to support the rapid expansion of its headcount, having already made over 100 engineering hires this year. Additionally, the company intends to invest in artificial intelligence technology to accelerate bank migrations, power agentic commerce, and automate bank operations.

Founded by CEO Paul Taylor, Thought Machine provides cloud-native core banking technology designed to help financial institutions modernize their infrastructure. The company works with banks globally to facilitate digital transformation through its platform.

Funding Details

Company Website: https://thoughtmachine.net

Company: Thought Machine

Raised: £30M

Round: Other

Funding Date: May 2026

Company Website: https://thoughtmachine.net

Software Category: FinTech