Published: July 7, 2026 at 8:26 am
Thought Machine has surpassed $100 million in revenue – but an anticipated stock market flotation is at least two years away.
The core banking technology provider has published audited accounts which revealed a previously unpublicised £45 million funding round as well as a fresh £30m from a new investor.
Founder and CEO Paul Taylor told Tech.eu that it has been secured from an unnamed tier 1 bank which also acts as a client.
On the £44.8m Series E quietly raised from existing shareholders in July 2025, Taylor refused to reveal the valuation this put on the business, saying: “We are trying to put less emphasis on valuation and more emphasis on commercial success.
“Funding rounds are just not where we want the attention to be. We want the attention to be on commercial growth.
“Hitting revenue targets is a far better indicator of success than saying ‘look how valuable we are’.”