ING Ventures, JPMorgan Chase, SEB, Lloyds Banking Group and SC Ventures all contributed to a series C round pushing the banking software developer's valuation past $1bn.

UK-headquartered banking technology developer Thought Machine completed a $200m series C round yesterday backed by financial services firms ING, JPMorgan Chase, SEB, Standard Chartered and Lloyds Banking Group.

Venture capital firm Nyca Partners led the round, which included British Patient Capital, Eurazeo, Molten Ventures, Backed and IQ Capital, while ING and Standard Chartered took part through ING Ventures and SC Ventures respectively.

Thought Machine provides a cloud banking software platform called Vault which enables users to manage their retail and…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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