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A fintech helping banks enter the cloud hits $1 billion valuation in JPMorgan-backed investment

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LONDON — British fintech start-up Thought Machine has raised $200 million in a fresh round of funding that lifts its valuation above the coveted $1 billion mark.

The cash injection was led by Nyca Partners, a U.S.-based venture capital firm that has previously bet on companies includingAffirm and Revolut, with additional backing coming from major lenders including JPMorgan Chase, Standard Chartered and ING.

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