Griffin, a Banking-as-a-Service platform based in London, has announced its transition into a fully operational bank following approval from the UK’s financial regulators, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
This milestone is coupled with the successful closure of a $24M (approximately €21.94M) funding round led by MassMutual Ventures, NordicNinja, and Breega, with participation from existing investors Notion Capital and EQT Ventures.
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Empowering Financial Innovation with Banking-as-a-Service
Founded in 2017 by Silicon Valley engineers David Jarvis and Allen Rohner (co-founders of tech unicorn CircleCI), Griffin aims to redefine banking for tech-driven companies. The platform offers comprehensive solutions for companies looking to offer banking, payments, and wealth solutions to their customers. “We’re here to help make it quick, simple, and inexpensive for companies to embed financial services into their own products,” Griffin states. “We do the heavy lifting on complex infrastructure and compliance requirements, so you can focus on creating a world-class experience for your customers.”
A New Era of Financial Products
With its API-first approach, Griffin provides an integrated ledger and automated compliance technology, enabling customers to optimize financial operations while maintaining high-quality customer service. The company is now inviting new customers through its early access program, Foundations, as it aims for responsible growth with pilot customers going live.
Commitment to Sustainability
As a member of Tech Zero, Griffin Bank actively works to reduce its carbon footprint and environmental impact, aligning with its mission to support sustainable growth in the financial sector.
Lead Investors’ Support
The lead investors in Griffin’s latest funding round bring a wealth of experience and resources to the table. MassMutual Ventures (MMV) manages over $1B, specializing in fintech, SaaS, healthtech, climate tech, and cybersecurity. NordicNinja, launched in 2019, focuses on scaling companies contributing to sustainability and digital advancements. Breega, with over €600M AUM, empowers purpose-driven founders from pre-seed to Series A and beyond, both in Europe and internationally.
With regulatory approval and fresh funding, Griffin is well-positioned to power the next generation of innovative financial products, offering a seamless and efficient banking solution for the digital age.
