When Paul Taylor was preparing to quit Google in 2013, he was seeking ideas for his next startup: something fundamental that could scale, but that seemed mundane and had been overlooked. He landed on a perfectly dull-sounding answer: Banking software.
Eight years later, the company he founded in London, Thought Machine Group Ltd., counts JPMorgan Chase & Co. among its global clients and has just been valued at $2.7 billion in a funding round led by Temasek Holdings Pte., a Singaporean sovereign wealth fund. Its success belies the view that Britain is falling behind on innovation and startups.
