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Thought Machine

Cloud native banking platform

501-1000 employees
  • Fintech
  • B2B
  • Banking
  • Payments
  • Deep Tech
  • Financial Services
  • SaaS
  • Cloud Computing
7 Herbrand Street, WC1N 1EX

Company mission

Thought Machine's mission is to build the new foundations for banking. They want to cure one of the banking industry's primary problems: its reliance on outdated IT infrastructure. Nearly every bank is still stuck on a legacy IT platform.

Rocket List 2021
Top investors

Most candidates hear
back within 2 weeks

25% female employees

22% employee growth in 12 months

Otta's take

Sam Franklin headshot

Sam Franklin

CEO of Otta

Most traditional banks are stuck on legacy technology. The world's biggest banks today have been around for hundreds of years and their systems reflect this. Their tech systems were built in the mid-20th century and changes/improvements have been layered on top since then.

This infrastructure is creaking in a lot of these institutions, so they need a radical overhaul if they're going to compete with challenger banks like Monzo, N26 and Starling, that have built their banks on modern technology from the ground up.

Thought Machine's customers are primarily in Europe and Asia, and include legacy outfits like Standard Chartered, Lloyds Banking Group, and Sweden’s SEB, but they are also working with challenger banks like Atom Bank. Traditional banks will need to innovate to hold on to their market share, and will need the latest technology to do it, providing a big opportunity for Thought Machine.

The company has raised more than $500m in funding and are now valued at $2.7bn, which is being used to support the transformation of the retail banking market with cloud native technology, solving bank reliance on legacy IT. Thought Machine were named AltFi's B2B Fintech of the Year, placed in the FinTech50, and in the IDC list of top 100 Fintechs.

Benefits

  • Life Insurance- 3 times annual salary
  • Competitive Maternity and Paternity leave
  • Shared parental leave

Funding (last 2 of 7 rounds)

May 2022

$160m

SERIES D

Mar 2022

$54.2m

LATE VC

$558.6m

Total funding

This company has top investors

Founders

Founder of Phonetic Arts (speech technology in gaming) until it was acquired by Google 4 years later. Then worked for Google as a Technical Lead for 3 years

People progressing

Joined as Back End Software Engineer and became a Tech Lead Manager after 1 year 4 months and is now an Engineering Manager.

Diversity & Inclusion at Thought Machine

Natalie Brock headshot

Natalie Brock (Chief of Staff - People)

  • Diversity is an integral part of life at Thought Machine. We want to create a work environment where employees enjoy showing up to work authentically as their best self.
  • We celebrate our differences with culture events and internal community networks such as the women’s group, OUT our LGBTQ+ group and Belong, which celebrates different ethnicities
  • In terms of nationality, Thought Machine has 450 staff and over 45 different nationalities across three offices.
  • Although we are above the UK’s average of women in fintech, we have got work to do.
  • To help us achieve greater parity we have introduced a number of measures and initiatives, including coaching and training.

Endorsements

All

Opportunities to learn (2)

Team energy (2)

Nice people (1)

Intelligent people (1)

Open and honest communication (1)

Great work is recognised (1)

Growing fast (1)

There is an incredibly in-depth programme of live "acadamies" from the company's experts in each area, which is mandatory for all new joiners. This makes everything incredibly open - very little siloed information; you get to learn about all the topics relevant to Thought Machine directly from those who live and breath that topic as their day-job.

Software Engineering

Opportunities to learn

Dec 2020

Particularly in Engineering, there is a high hiring bar. Colleagues are exceptionally knowledgeable and happy to help. There is a large amount of trust that if you hand something off to a colleague, they have the skills and the tenacity to just get it done.

Software Engineering

Intelligent people

Dec 2020

Strong emphasis on making Thought Machine a fun environment to work, and keeping the energetic small-company feeling alive, regardless of how large the firm gets. Weekly Friday all-hands are packed with entertainment, there are constant social activities to get involved in, and a strong "have fun at work" culture.

Software Engineering

Team energy

Dec 2020

Communication is clear and transparent both within teams and at company-wide level, heavy engagement with senior leadership also helps, and questions are encouraged.

People, HR, Recruitment

Open and honest communication

Nov 2020

Working at Thought Machine is great, the mission and work is cutting edge which makes projects very exciting. You are encouraged to use your initiative, have autonomy over the projects you work on and lead on work. If you have an idea, it is considered (and often put into action). And there is complete transparency about who is doing the work and praise is given and great work recognised (at a company-wide level).

People, HR, Recruitment

Great work is recognised

Nov 2020

At Thought Machine the people are some of the nicest people you will meet, from the first contact on application to the job to almost one year into being here, it is one of the highlights of working here. People are welcoming, supportive, intelligent, funny and helpful - just a few things to describe the people (and culture) here.

People, HR, Recruitment

Nice people

Nov 2020

Thought Machine is growing at a very fast rate- the Thought Machine family has almost doubled in the past year! We are continuing to grow our London and Singapore offices whilst also expanding to New York and Melbourne. It is a very exciting time!

People, HR, Recruitment

Growing fast

Nov 2020

The team energy and buzz at Thought Machine is awesome- company culture is an absolute priority and something we are super proud of. I feel like I am surrounded by the most supportive, fun, creative and intelligent people! We have so many company events, clubs and activities (my favourite is lunch roulette) which ensures everyone gets to know everyone across the company and it remains a fun and vibrant place to work!

People, HR, Recruitment

Team energy

Nov 2020

So. Much. Learning! I had a really awesome mentor and have a great team to ask (a lot of) questions to and bounce ideas around. I was thrown in at the deep end on numerous projects which meant I picked up new skills and ways-of-working very quickly. We run Thought Machine academy training where you learn about all areas of the company, industry, tech and people (all new joiners are enrolled in academies). We also have unlimited use of O'Reilly Media for resources!

People, HR, Recruitment

Opportunities to learn

Nov 2020

Jobs (2)

All locations

Software Engineering

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