a year ago

Griffin Raises $24 Million as it Secures Banking License

  • Griffin, a U.K.-based banking-as-a-service (BaaS) platform, has raised $24 million in an extended Series A round led by MassMutual Ventures, NordicNinja and Breega

  • The company, founded by former Silicon Valley engineers, has obtained a banking license from the U.K.’s financial services regulators, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)

  • Griffin offers a full-stack platform for fintech companies to offer banking, payments and wealth solutions via automated compliance and an integrated ledger

  • The company has raised around $52 million since its founding in 2017.

      • ProblemFinancial Services

      "Many businesses need to offer financial services to their customers, but traditional banks are slow and expensive to work with. This makes it difficult for businesses to offer things like savings accounts, payment processing, and other financial products."

      Solution

      "Griffin provides a platform that allows businesses to easily integrate banking, payments, and wealth management solutions into their own products. This makes it easier for businesses to offer financial services to their customers without having to build their own banking infrastructure."

      Covered on