Thought Machine Eyes London IPO After £45m Funding Boost
Thought Machine, a UK-based fintech startup, is contemplating an Initial Public Offering (IPO). Founder Paul Taylor has shown interest in listing the company on the London Stock Exchange, although other investors' views and the popularity of New York listings may influence the decision.
Thought Machine has recently secured £45m in funding, in July 2024, to support its growth and product development. This follows a significant reduction in the company's valuation in May 2022, which dropped by nearly 40% to $2.7bn (£2bn). Despite this, the company's turnover in 2024 reached £47.6m, although it also reported a loss of £71.2m for the same year.
The company's workforce has seen a decrease, with the number of employees falling by 12.4% to 523 in 2024. However, Taylor's interest in taking the company public suggests confidence in Thought Machine's future prospects.
Thought Machine's potential IPO, following recent funding and despite a valuation drop, indicates the company's ambition for growth. The final decision on the IPO's location will consider various factors, including investor preferences and market momentum.
