Insights: BaaS Platform Griffin Raises $24 Million and Launches as a Fully Operational UK Bank

Griffin, a UK-based BaaS provider, recently landed a $24 million investment round; allowing it to exit mobilisation as a fully licenced bank. The funding round was led by MassMutual Ventures, NordicNinja and Breega, alongside existing investors Notion Capital and EQT Ventures.

Griffin was founded in 2017 by Allen Rohner and David Jarvis and is led by a team of banking and technology executives from the likes of Form3, Swift, Barclays, Virgin Money and more. Their founders set out with the aim to enable global brands with complex payment needs to enhance their customer experience with embedded finance. Following its goal to become a leader in the BaaS space, Griffin applied for its banking licence only a year ago, and became listed on the FCA (Financial Conduct Authority).