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Griffin Raises £11M in Series A Funding, Led by MassMutual Ventures
Griffin, the UK’s first full-stack Banking as a Service platform, secures funding to support its innovative banking services and empower other fintechs. The total investment in Griffin now reaches £30 million, enabling the company to further enhance its position in the UK fintech sector.
The Unique Power of Griffin: A Licensed Bank and BaaS Platform
Unlike other fintech services, Griffin’s licensed bank status allows it to operate as a full-fledged bank, offering comprehensive financial services, including deposits, interest, and its own cards. This distinction, combined with its innovative platform, sets Griffin apart in the industry and positions it as a pivotal player in the fintech ecosystem.
MassMutual Ventures’ Support and Griffin’s Board Diversity
MassMutual Ventures, the lead investor in Griffin’s funding round, recognizes the company’s unique capabilities and its potential to serve fintechs, payment services providers, and brands seeking to embed finance offerings. The support and diverse perspectives from MassMutual and Griffin’s board contribute to the company’s strategic growth.
API-First Approach: Empowering Fintech Startups with Griffin’s Platform
Griffin’s API-first approach provides a developer-friendly platform designed to support fintechs and brands in integrating finance into their products. The funding received will aid Griffin’s progress towards becoming a fully authorized bank and will be instrumental in the completion of their risk and control framework and technology.
Focus on the UK Market and Opportunities for Innovation
While Griffin has global expansion plans, its primary focus is on the UK market, which offers a favorable regulatory environment for innovative businesses. Griffin takes advantage of unique opportunities in the UK, addressing the challenges faced by fintechs when establishing banking relationships and providing services tailored for the modern era.
Building the Future: Griffin Empowers the Next Generation of Startups
Griffin envisions itself as not just a bank but a catalyst for the next generation of startups. By streamlining the onboarding process and leveraging a modern software company’s approach, Griffin aims to facilitate the growth and success of fintech builders in an industry that demands agility and innovation.
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