Griffin, a London, UK–based Banking as a Service (BaaS) fintech firm, announced that it raised $15.5 million (£12.5 million) in funding to launch the OS for embedded finance.
The round was led by Notion Capital, with participation from existing investor EQT Ventures, as well as fintech angels including William Hockey, co-founder of Plaid and founder and co-CEO of Column, Nilan Peiris, VP of Growth at Wise, Rob Straathof, CEO at Liberis and Shane Happach, CEO of Mollie and ex CCO of Worldpay.
Griffin investment will be used to build an API-first banking platform that brings the power of self-service software to the financial services industry.
The company has raised $27 million of funding to date and recently submitted its application to the PRA and the FCA to become an authorized bank.
Griffin also welcomes Notion Capital co-founder and managing partner Stephen Chandler to its board of directors.
Company: Griffin Financial Technology Limited
Raised: $15.5M
Round: Unknown
Funding Month: July 2022
Lead Investors: Notion Capital
Additional Investors: EQT Ventures, William Hockey, Nilan Peiris, Rob Straathof, and Shane Happach
Company Website: https://griffin.sh/
Software Category: Banking as a Service
About the Company: Griffin is an API-first, Banking as a Service provider focused on simplifying the complexity of banking infrastructure and compliance operations. Griffin will empower companies to bring new financial products to market quickly and easily on a platform designed for scalability and security. Griffin aims to do for banking what Stripe did for payments. The platform is an OS for embedded finance, an all-in-one solution that will break down barriers to entry for fintechs by reducing cost, time to market, and the hassles of securing a banking partner. The platform will also enable global brands with complex payment needs to enhance the customer experience with embedded finance. Created by experienced Silicon Valley founder-engineers and led by a team of banking and technology experts, Griffin is developing the infrastructure to power the next wave of fintech innovation.
Source: https://blog.griffin.sh/2022/07/07/griffin-secures-additional-15-5-million-in-funding-in-quest-to-become-the-bank-fintechs-can-build-on/