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