Thought Machine is a London-based cloud banking technology company founded in 2014. It builds core banking and payments software for banks and fintechs, including its Vault Core and Vault Payments products.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$2.7B
Series D, 2021, Perplexity
UpMarket Estimate
$2.3B
Based on UpMarket valuation model
Previous Price
$1.35B
Series C 2018
How to Invest in Thought Machine Through UpMarket
Thought Machine shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Thought Machine offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
${{aum_amount_brokered_en}}B+
UpMarket has brokered over ${{aum_amount_brokered_en}} billion in alternative investments*
*Includes principal invested and appreciation of investments originated via the UpMarket platform based on historical trade volume and valuation estimates through {{aum_as_of_date_en}}. Of the total, approximately ${{aum_amount_managed_en}} million is managed by UpMarket Management, with the remaining originated investments managed by affiliates. Past performance is not predictive of future results.
Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
2021
Series D
$2.7B
2018
Series C
$1.35B
2017
Series B
Thought Machine Revenue and Growth
Annual revenue
Why Investors Are Watching Thought Machine
Growth Signal
Thought Machine raised $200M in Series C, hit unicorn status
Thought Machine closed a $200 million Series C round led by Nyca Partners, with strategic investors from ING, JPMorgan Chase and Standard Chartered. The company said the round lifted its valuation to more than $1 billion and marked unicorn status.
Competitive Moat
Tier-one banks joined Series C as strategic investors
ING Ventures, JPMorgan Chase Strategic Investments and Standard Chartered Ventures all invested in the round, alongside existing backers Lloyds Banking Group and British Patient Capital. Strategic bank ownership signals customer alignment and can strengthen distribution in core banking sales.
Market Opportunity
Cloud-native core banking targets banks moving off legacy IT
Thought Machine says it was founded in 2014 to help banks move away from legacy IT platforms and deploy modern systems. Its platform is designed for banks and fintechs worldwide, pointing to a large replacement market across core banking and payments.
Interested in Thought Machine stock? Fill out the form above or sign up directly. Subject to availability. Accredited investors only.
UpMarket curates and conducts independent diligence on every investment opportunity before it reaches the platform.
Strategy, fees & legal reviewed in full
We review every offering's strategy, risk management, liquidity, fees, valuation methodology, tax matters, and all third-party providers — legal counsel, auditor, administrator, and custodian.
Disciplined managers only
We offer investments exclusively from disciplined managers that pursue unique strategies across an array of asset classes.
Built around your objectives
Our goal is to empower you to build a portfolio that best meets your individual investment objectives.
No. As of March 2026, Thought Machine is a private company and does not trade on any public stock exchange. Accredited investors can access Thought Machine shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Thought Machine does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Thought Machine shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. Thought Machine shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Thought Machine builds core banking and payments software for banks and fintechs, generated $111.4M in 2024 revenue and is valued at $2.3B; its $200M Series C helped it reach unicorn status — accredited investors can access Thought Machine stock through UpMarket.