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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Skandinaviska Enskilda Banken AB    SEB A   SE0000148884

SKANDINAVISKA ENSKILDA BANKEN AB

(SEB A)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 10/21 11:25:00 am
83.87 SEK   -1.84%
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Skandinaviska Enskilda Banken : SEB invests in fintech firm Thought Machine

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07/28/2020 | 03:20am EDT

SEB is investing in London-based fintech company Thought Machine, the provider of a cloud-native core banking platform, as it raises an additional 42 million US dollars in financing from three investors for its series B round.

The additional financing, which was led by Eurazeo Growth alongside British Patient Capital and SEB, brings Thought Machine's series B round's total value to 125 million dollars. The company, of which SEB is already a customer, will use the funding to continue to grow its business at international scale while continuing to develop new products and features.

Founded in 2014 by former Google engineer Paul Taylor, Thought Machine has built Vault, a cloud native core banking platform developed to enable banks to deploy modern systems and move away from legacy IT platforms. SEB's investment follows a period of testing and implementation of Thought Machine's platform into SEBx - SEB's strategic initiative focused on exploring new technologies and future customer offerings.

'We have been working with Thought Machine as part of SEBx's technology exploration for some time now, building financial products and services in completely new ways', says Christoffer Malmer, head of SEBx. 'Thought Machine brings a fresh perspective to a traditional industry and our investment is a natural next step as we deepen and broaden the relationship. We are excited to join Thought Machine on this journey, thus far as a partner and now also as an investor, bringing together the strengths of SEB with promising new technologies.'

Disclaimer

SEB - Skandinaviska Enskilda Banken AB published this content on 28 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2020 07:20:08 UTC


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Financials
Sales 2020 49 064 M 5 629 M 5 629 M
Net income 2020 14 762 M 1 694 M 1 694 M
Net Debt 2020 - - -
P/E ratio 2020 12,3x
Yield 2020 4,70%
Capitalization 182 B 20 851 M 20 872 M
Capi. / Sales 2020 3,71x
Capi. / Sales 2021 3,58x
Nbr of Employees 15 329
Free-Float 72,7%
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 93,72 SEK
Last Close Price 83,90 SEK
Spread / Highest target 41,8%
Spread / Average Target 11,7%
Spread / Lowest Target -14,2%
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NameTitle
Johan Torgeby President, Chief Executive Officer & Director
Marcus Wallenberg Chairman
Aušra Matuseviciene Head-Operations
Masih Yazdi Chief Financial Officer
Nicolas Moch Chief Information Officer
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