Portfolio
4
companies
10x Banking
10x Banking operates a cloud native SaaS core bank operating system for financial institutions.
Thought Machine
Thought Machine develops cloud native core banking technology for financial institutions.
10x Future Technologies
10x Future Technologies builds cloud native core banking systems for major financial institutions.
PPRO
PPRO provides local payments infrastructure and technology to support international transactions.
The investment was led by existing backers BlackRock and JPMorgan Chase to support the company as it scales its core banking technology.
"There has never been a more exciting time for banking transformation and core modernization, as banks across the world embark on this journey"
Temasek led the Series D round, which values the cloud banking technology firm at $2.7bn.
"We are investing c.£40m into Thought Machine, a fintech innovator and partner we consider strategic to the industrial upgrade of Intesa Sanpaolo. Their cloud-based technology is fundamental to our transformation from incumbent to digital challenger, improving our core banking technology and providing the foundation for our new digital bank, Isybank."
The oversubscribed round was co-led by BlackRock and Canada Pension Plan Investment Board with backing from existing investors.
"This funding round represents another significant milestone in our journey to become the operating system of choice for leading banks across the globe,"
JPMorgan Chase and Eldridge join the investor group to extend the company's latest funding round.
"I’m delighted to welcome JPMorgan Chase and Eldridge to our world-class group of investors as we continue to strengthen and expand our local and alternative payment capabilities,"
