Griffin, a banking as a service (BaaS) FinTech, has raised £12.5mn funding and is applying for a banking licence.
In Brief:
- The funding round was led by Notion Capital, and included existing investors EQT Ventures as well as a number of Angel investors.
- It brings the total raised to £22.4mn.
- The business is also applying for a full banking licence to offer its clients bank accounts to send and receive payments.
What does this mean?
Griffin, which aims to offer a full-stack banking as a service platform, has applied for a licence to become a bank with the PRA and FCA. This will afford it a unique ability to offer customers banking services beyond many of its competitors.
Read more here.
https://www.uktech.news/fintech/griffin-banking-raises-12-5m-20220707
