Griffin Raises $20M Series B to Add Cards and Stablecoin Services
Griffin raised a $20 million Series B led by Octagon Partners, valuing the London-based embedded banking platform at over $100 million. Notion Capital, A+ Ventures, Nordic Ninja, Breega, and other existing backers participated. Griffin holds a full UK banking licence granted by the PRA and FCA in Mar 2024 and lets fintechs and platforms embed accounts and payments into their own products.
The new capital will fund branded retail and corporate debit card issuing, with a credit card offering to follow. Griffin is also building stablecoin reserve capabilities and integrating on-chain cross-border payments. More than 80 companies now build on Griffin's infrastructure, including Uber, Countingup, and Anna Money, serving over 300,000 underlying customers.
The company says the financing will carry it through to profitability.
- Griffin's expansion into cards and stablecoins signals convergence of embedded banking and crypto infrastructure in the UK
- A licensed bank offering stablecoin reserves natively could attract fintech clients seeking regulatory clarity alongside digital asset capabilities