Griffin secures £12.5m Series A funding led by Notion Capital to advance its banking platform.
The investment round was led by Notion Capital with backing from EQT Ventures and various industry angels.
Griffin is a full-stack Banking as a Service platform that provides automated compliance technology and integrated ledgers for technology-driven firms. It operates as an API-first UK bank following regulatory approval to exit mobilisation.
London-based Banking as a Service provider Griffin has raised £12.5m in a Series A funding round. The investment was led by Notion Capital, with participation from existing backer EQT Ventures and several prominent fintech angel investors.
The capital will be deployed to expand the operational and leadership teams and advance the development of the core banking platform. This funding follows Griffin's submission of its banking authorisation application to the Prudential Regulation Authority and the Financial Conduct Authority.
Notion Capital managing partner Stephen Chandler will join Griffin's board of directors as part of the transaction. The company has raised a total of £27m to date as it prepares to offer fully integrated banking services to fintech clients.
From the founder
"We’re thrilled to be working with Notion Capital and to have someone of Stephen’s calibre join our board. His experience fits perfectly with our vision to blend the worlds of banking and technology in one powerful platform,"
David Jarvis
CEO at Griffin
Investor perspective
"SaaS is finally eating the financial services sector the way it has every other industry, and Griffin will empower fintechs to build and launch financial products with a single secure and modern SaaS platform,"
Stephen Chandler
Managing Partner, Notion Capital
Use of funds
- 01Grow the team
- 02Continue product development
