British Fintech Thought Machine Opens Lisbon Office at Sitio Coworking

Thought Machine, the London-based fintech, has opened its new office at Sitio’s Rossio coworking location in Lisbon.

Sitio operates 16 coworking locations in Portugal.

Thought Machine builds cloud-native core banking and payments software on its Vault platform. It has 530–600 employees across more than a dozen locations and has surpassed $100 million in annual recurring revenue. The new Sitio facility offers flexible terms and a central address to help the company establish its Portugal arm and build team culture, tells the British firm.

“After months of hard work to select a location, set up the entity and build out everything required for launch, the Thought Machine Lisbon office doors are open. A massive thank you to all the teams that have been involved with making this happen. Our office is within SITIO.pt Rossio location, which is in the heart of Lisbon and perfect to help build our culture. What a milestone!”, says Sarah Frodsham of Thought Machine, in a LinkedIn post.

It is not disclosed how many staff will be based there.