24M

Fintech, Startups

Griffin, a Fintech Startup, Raises $24M and Secures Full Banking License

Griffin Founders Allen Rohner And David Jarvis Copy

Founded by former Silicon Valley engineers, UK-based Griffin Bank bills itself as an API-driven ‘Banking as a Service’ platform. But Griffin isn’t likely to offer banking accounts directly to consumers, but to other businesses needing to offer embedded financial solutions such as savings accounts, safeguarding accounts and accounts for holding client money. Last year in North America, Treasury Prime secured a $40 million Series C, Synctera $15 million and Omnio raised $9.8 million. So they’re leveraging an existing financial relationship to bundle additional financial services in an embedded way. All of that needs to sit in specially marked bank accounts.” Griffin’s aim, he says is to pick up as much of that business as possible.

Max Chen
March 11, 2024

Startups

“Pier Secures $2.4 Million to Unveil Revolutionary ‘Credit Stripe’ System”

“Pier is building ‘Stripe for credit,’ which is a way for companies to automate their own credit products.”Here’s how it works: Developers add Pier’s APIs with a few lines of codes, saving months of labor and millions of dollars, Zhang said. Pier’s technology then manages the credit lifecycle from end-to-end, including origination, underwriting, compliance and servicing. Other companies have also claimed to be “Stripe for credit,” for example, Setpoint, a startup that developed software for faster loan transactions. Even Stripe itself created new credit products for businesses about six months ago. Other solutions out there address specific components of the lifecycle, like underwriting or Know Your Customer, while Pier provides a more comprehensive offering.