Griffin Secures Full Banking License and Raises $24 Million

The UK fintech startup Griffin has successfully obtained full regulatory approval to operate as a bank, marking a significant milestone in its development.

Griffin, a banking-as-a-service platform, has raised $24 million in an extended Series A funding round led by MassMutual Ventures, NordicNinja, and Breega.
The London-based startup, founded in 2017, has now been authorized by the PRA and the FCA to launch as a fully operational bank.
Griffin's funding round also saw participation from Notion Capital, EQT Ventures, DG Daiwa, and CircleRock, bringing its total funding to $59.7 million.
The company, which offers APIs for banking services to businesses, has grown to around 100 staff and is focusing on expanding its customer base and improving products.
Griffin's approach to banking-as-a-service emphasizes embedded finance and aims to enable businesses to offer financial products seamlessly.