BaaS Fintech Firm Griffin Raises $15.5M in Funding

Griffin, a Banking as a Service (BaaS) fintech firm, today announces it has raised $15.5 million (£12.5 million) in funding to launch the OS for embedded finance. 

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The round was led by Notion Capital, with participation from existing investor EQT Ventures, as well as fintech angels including William Hockey, co-founder of Plaid and founder and co-CEO of Column, Nilan Peiris, VP of Growth at Wise, Rob Straathof, CEO at Liberis and Shane Happach, CEO of Mollie and ex CCO of Worldpay.

Griffin also welcomes Notion Capital co-founder and managing partner Stephen Chandler to its board of directors. Chandler's previous investments include fintech unicorns GoCardless and Paddle and he brings a wealth of industry knowledge and operating experience in both banking and software to Griffin.

"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," said David Jarvis, Griffin CEO and co-founder. "With this injection of funding, we can continue to innovate, scale our business, and focus on building the best banking platform possible."

"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 at Notion Capital said. "I'm thrilled to support the team as they rewrite the way companies interact with banks and accelerate growth."

Griffin is building a full-stack vertically integrated BaaS platform, powered by modern user-friendly technology. The company has raised $27 million of funding to date and recently submitted its application to the PRA and the FCA to become an authorised bank.