Griffin, a London, UK-based API-driven Banking-as-a-Service (BaaS) platform, has raised $24 million in extended Series A funding, bringing its total raised to approximately $52 million.
The company has successfully obtained a banking license from the U.K.’s financial services regulators, the Prudential Regulation Authority (PRA), and Financial Conduct Authority (FCA).
SaaS Investors
The round was led by MassMutual Ventures, NordicNinja, and Breega, with participation from existing investors Notion Capital and EQT Ventures.
Founded in 2014, MassMutual Ventures is a venture capital arm of MassMutual Financial Group based in Boston, Massachusetts. The firm seeks to invest in enterprise software-as-a-service, cybersecurity, financial technology, health technology, and climate technology companies.
NordicNinja is a venture capital investment firm that invests in the Nordic and Baltic regions. The firm seeks to invest in early-stage companies operating in the robotics, automation, health tech, artificial intelligence, and mobility sectors. It was founded in 2019 and is based in Helsinki, Finland.
Founded in 2013, Breega Capital is a venture capital investment firm based in Paris, France. The firm seeks to invest in the digital, hardware, software, nanotechnology, digital, cleantech, financial technology, robotics, deep technology, and insurance technology sectors.
About Griffin
Founded in 2017 by David Jarvis and Allen Rohner, Griffin is a SaaS fintech company that provides a banking platform that helps companies build and launch financial services products. Griffin offers a full-stack platform for fintech companies to provide banking, payments, and wealth solutions. Its platform has integrated compliance services for companies that need custodial accounts and access to interbank payments. Its products power customers' financial services backend with accounts, payments, credit, and many more and are accessible through its built-for-purpose application programming interface (API).
Funding Details
Company: Griffin Bank Ltd.
Raised: $24.0M
Round: Series A Extension
Funding Month: March 2024
Lead Investors: MassMutual Ventures, NordicNinja and Breega
Additional Investors: Notion Capital and EQT Ventures
Company Website: https://griffin.com/
Software Category: Banking SaaS
Source: https://techcrunch.com/2024/03/10/banking-as-a-service-startup-griffin-riases-24m-and-attains-full-banking-licence/