Griffin raises $20 million to expand its banking infrastructure
Octagon Partners led Griffin’s Series B as the UK bank prepares card issuing and stablecoin services.
Griffin has raised $20 million in Series B funding led by Octagon Partners, with participation from Notion Capital, A+ Ventures, NordicNinja, BREEGA and other existing investors.
The London company provides banking infrastructure that fintechs and other businesses embed in their own applications. Its UK banking licence and core platform support accounts, payments and customer checks. More than 80 companies are building on its infrastructure, according to Griffin.
The company plans to use the funding to expand into card issuing and stablecoin services and support its progress towards full-year profitability. The round brings its total funding to about $95 million.
Use of funds
Expand card issuing and stablecoin services
Support a path to full-year profitability