MassMutual Ventures backs Griffin

Griffin, a London-based banking-as-a-service provider, has raised $13.5 million in a Series A funding round led by MassMutual Ventures, with participation from existing investors Seedcamp, Notion Capital and EQT Ventures.

Founded in 2017, Griffin helps third parties launch banking products. Earlier this year, the startup secured a banking license after being authorized by the PRA and the FCA to operate with restrictions. The new funds will be used to prepare for exiting the authorization with restrictions period, which is subject to regulatory approval.

“We’re fortunate to have found in MassMutual Ventures an investor with such conviction in what we’re doing. 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.” – David Jarvis, CEO of Griffin.

“Griffin’s license and BaaS platform represent unique capabilities in the UK market and enable it to become a pillar for the fintech ecosystem. Its comprehensive product suite is tailored to serve fintechs, payment services providers and brands looking to embed finance offerings.” – Ryan Collins, managing partner at MassMutual Ventures.