Griffin, a bank for fintechs and platforms, has raised £15 million in a Series B round led by Octagon Partners, with participation from Notion Capital, A+ Ventures, Nordic Ninja, Breega and other existing investors. The investment values Griffin at over £75 million. The funding will be used to expand Griffin's offering into cards and stablecoins.
Griffin's regulated banking infrastructure and APIs let businesses launch, embed and scale accounts, payments, savings and other financial products. More than 80 companies build on that infrastructure, serving customers across payments, wealth, savings and client money services.
Griffin launched as a fully licensed UK bank two years ago with an initial cohort of five companies testing its systems. It is now a clearing and embedded, or white-labelled, banking platform that powers over 80 companies including Uber, Countingup, Anna Money, Yonder and Prosper. The platform serves more than 300,000 underlying retail and business customers and processes nearly 10 million payments per year. As of its September 2026 year end, Griffin had 3.2 times year-on-year recurring revenue growth, based on unaudited financial accounts that are subject to change pending its statutory audit. Griffin has been named to the Sifted 250 and admitted into Tech Nation's Future Fifty 2026 cohort.
The round will support two additions. Card issuing will let customers launch branded retail and corporate debit cards through Griffin, and Griffin plans to follow that launch with a credit card offering. Stablecoin services will cover developing reserve capabilities for businesses operating in the stablecoin market and integrating on-chain cross-border payments. The financing will also support Griffin through to profitability. Royal Park Partners acted as exclusive strategic and financial advisors to Griffin on the fundraise.
Since launching as a bank two years ago, we’ve built the infrastructure that over 80 companies now rely on to bring banking products to their customers. This round lets us go further: cards and stablecoins are the natural next layer for our infrastructure, and the response from investors so far reflects the scale of the opportunity ahead of us. We’re delighted to have Octagon leading this round alongside our existing investors.
Griffin has grown rapidly from its launch in 2024 to powering over 80 fintechs and platforms who trust Griffin to move fast without compromising on compliance and will shortly clear double digit £m in annual recurring revenue. The growth over the past two years since getting the full banking licence, both in customers and in revenue, speaks for itself. Griffin’s combination of proprietary technology and AI provides a scaffolding for embedded banking under a dual PRA/FCA regulatory regime that represents the sort of defensible moat that neither traditional fintechs nor traditional banks can compete with.
