Griffin lands $13.5m in Series A funding round

Griffin, a fintech offering Banking as a Service, has raised $13.5m in its Series A funding round.

MassMutual Ventures led the round, which also saw participation from existing investors Seedcamp, Notion Capital and EQT Ventures. 

Griffin targets both fintechs and non-financial brands looking to embed finance. It is set to offer bank accounts (including interest bearing savings accounts), access to the UK’s payment rails, cards, an integrated ledger, and automated compliance technology. 

It was founded in 2017 by David Jarvis and Allen Rohner, co-founders of tech unicorn CircleCI, and also has a senior team of executives from Form3,Monzo, SWIFT, GoCardless and others.

The cash will be used to help its push to market its core banking infrastructure platform, following on from winning a UK bank license with restrictions as well as developing its embedded finance offering too.

"We’re fortunate to have found in MassMutual Ventures an investor with such conviction in what we're doing," said David Jarvis, CEO of Griffin. "This funding round not only validates our mission and strategy but also equips us with the resources to continue to deliver our innovative banking solutions to more customers."

The company last raised funding in 2022 with a £12.5m round led by Notion Capital, and in 2020 it raised £6.5m from EQT Ventures.