griffin

Enterprise, Fintech, Startups

Griffin Bank: Licensed to Thrill!

This week, we look at Griffin Bank getting its license ahead of some heavy hitters, and we go inside Stripe’s annual letter, some funding rounds, and more! The banking-as-a-service company managed to do something that even the region’s most valuable fintech company, Revolut, hasn’t been able to do yet — obtain a banking license. Granted, as Mike Butcher writes, banking licenses are difficult to come by (Griffin’s took a year), but Revolut has talked about securing a banking license for the past three years. Now that Griffin has a banking license, it offers a full-stack platform for fintech companies to offer banking, payments and wealth solutions via automated compliance and an integrated ledger. In a new SEC filing, Reddit’s IPO involves around 22 million shares, priced between $31 and $34.

Zara Khan
March 17, 2024

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.