Christoffer is Chief Financial Officer at SEB, having previously led the bank's embedded and innovation units. His earlier tenure at the institution includes leading wealth management and heading financial institutions coverage globally.
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."
Nyca Partners led the Series C round, which values the business at over $1bn and includes backing from several major global banks.
"We are delighted to have earned the support of our new and existing investors as we continue to move the world’s leading banks into the cloud. We set out to eradicate legacy technology from the industry and ensure that all banks deployed on Vault can succeed and deliver on their ambitions. These new funds will accelerate the delivery of Vault into banks around the world who wish to implement their future vision of financial services."
Eurazeo Growth led the extension round, backed by British Patient Capital and SEB, to support international expansion and product development.
"The prospect of transitioning to cloud native technology is now at the forefront of every major bank’s roadmap. Plans have been hastened in the wake of regulatory pressure, economic uncertainty and the need to manage cost-income ratios. Our flagship core banking product, Vault, brings the best in agility, resilience and security and is being used by major banks and fintech companies around the world. We are delighted to partner with Eurazeo Growth, British Patient Capital and SEB, which demonstrates ongoing investor interest in our technology and the significant market opportunity we are addressing."
