Griffin Raises €18Mn Series B Funding at $100M+ Valuation to Expand Embedded Banking Platform

The funding round was led by Octagon Partners, a London-based investment firm that focuses on technology businesses in the UK mid-market.

Existing investors Notion Capital, A+ Ventures, Nordic Ninja and Breega also took part in the round. Following this investment, Griffin's valuation has crossed €90.13 million ($100 million).

“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,” said Jarvis, CEO and co-founder, Griffin.

“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,” said Paraag Davé, Managing Partner, Octagon.

Founded in 2024 by David Jarvis and Allen Rohner, Griffin is a fully licensed bank in the UK. It started with a small pilot involving five test companies and has since grown into a banking platform that supports more than 80 businesses.

The company's platform now serves over 300,000 retail and business customers. Its clients include Uber, Countingup, Anna Money, Yonder and Prosper. Griffin also processes nearly 10 million payments every year.

The new funding will also help Griffin move closer to becoming a profitable business. The company plans to continue improving its banking technology and services.

Griffin offers easy-to-use banking tools for developers and operates under two regulatory permissions. Its platform helps fintech companies and digital businesses offer financial products to their customers without having to build their own banking systems or obtain the required banking infrastructure.

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