Griffin secures USD 24 million

Monday 11 March 2024 10:11 CET | News

Griffin has announced the rise of USD 24 million in funding round, as well as its launch as a fully operational bank in the region of the United Kingdom.

Following this announcement, the full-stack Banking-as-a-Service (BaaS) platform will be allowed to exist mobilisation and to launch as a fully operational UK bank. The process was approved by the UK’s financial services regulators, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), as both lifted restrictions and enabled Griffin to secure the banking license. 

Griffin’s launch is also supported by a USD 24 million funding round, which was led by multiple enterprises, such as MassMutual Ventures, NordicNinja, and Breega, with participation from already existing investors Notion Capital and EQT Ventures. The funding round will scale the bank and improve its overall infrastructure for new and existing clients.


Griffin has announced the rise of USD 24 million in funding round, as well as its launch as a fully operational bank in the region of the United Kingdom.

More information on the announcement

Griffin provides customers and partners with its full-stack platform, which was developed in order to give technology-driven firms the possibility to offer secure and efficient banking, payments, and wealth tools to their user base. The financial institution’s automated compliance technology and incorporated ledger technology focuses on enabling clients to streamline their financial operations, while also continuing to deliver improved products to their users. Griffin is set to focus on meeting the needs, preferences, and demands of its customers in an ever-evolving market, while also remaining compliant with the regulatory requirements and laws of the local industry. 

Throughout this launch, Griffin is expected to prioritise its strategy of embedding sustainable business practices for companies and partners at every level. The financial institution has invested in a deeply ethical culture, with a focus on robust governance and financial control. At the same time, Griffin will continue to actively work on the process of reducing its carbon footprint and minimise its overall environmental impact, as a member of Tech Zero. Two of the funding round’s co-leads, NordicNinja and Breega, also represent EU Article 8 funds with a heavy focus on sustainable development. 

In addition, Griffin is set to accelerate its growth process, while also remaining committed to scaling responsibly as pilot customers and clients go live. The bank will also take on new users by leveraging its early access programme, Foundations. Furthermore, Griffin will work with Foundations participants in order to optimise the manner in which they improve their capabilities and offerings with contextual and secure finance which will be embedded directly into their client experience. 

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Keywords: funding, investment, banking, banking license, online banking, mobile banking, digital banking, green finance, carbon footprint
Categories: Banking & Fintech
Companies: Griffin
Countries: United Kingdom
This article is part of category

Banking & Fintech


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