Griffin raises $20m to add cards and stablecoin services
Octagon Partners led the Series B, which values Griffin at more than $100m (£75m) and pays for debit card issuing and stablecoin services for the companies that build on it
- Notion Capital, A+ Ventures, Nordic Ninja, Breega and other existing investors joined Octagon Partners in the round.
- Griffin has raised about $95m (£72m) in total, Tech.eu reported.
- Griffin’s platform covers clearing as well as embedded, white-label accounts, payments and compliance.
- Griffin is authorized by the Prudential Regulation Authority and regulated by both the PRA and the Financial Conduct Authority.
Griffin plans to add credit cards soon after the debit cards launch. It has not given a launch date for either card. The company said the round will carry it through to profitability.
“This round lets us go further: cards and stablecoins are the natural next layer for our infrastructure, and the response from investors so far reflects the scale of the opportunity ahead of us.”David Jarvis, chief executive and co-founder, Griffin
Griffin, the London bank that fintechs and platforms build their accounts on, announced a $20m (£15m) Series B on 12 November. Octagon Partners led the round, which values Griffin at more than $100m (£75m).
Griffin will use the money to let its customers issue debit cards under their own brand, to consumers and to businesses, from the bank that already holds their accounts and runs their payments. The money also pays for services for stablecoin businesses that need to hold reserves, and cross-border payments that settle on-chain.
More than 80 companies build on Griffin, among them Uber, Countingup, Anna Money, Yonder and Prosper. Griffin launched as a fully licensed bank in 2024 with five companies testing its systems.
Recurring revenue grew 3.2 times in the year to September 2026, Griffin said. The figure comes from unaudited accounts and may change once the statutory audit is complete.
Paraag Davé of Octagon said Griffin will shortly pass £10m in annual recurring revenue. He said Griffin’s own technology and its use of AI give it an advantage that traditional fintechs and traditional banks cannot match.
Sources
- Griffin, “Griffin announces Series B to add cards and stablecoin payments capabilities to its agentic banking platform”, press release, 12 November 2026. https://griffin.com/blog/series-b-announcement
- Tech.eu, “UK banking infrastructure fintech Griffin raises $20M”, John Reynolds, 12 November 2026. https://tech.eu/2026/11/12/uk-banking-infrastructure-fintech-griffin-raises-20m/
- Pound Sterling Live, GBP/USD exchange rate history for 2026, 12 November 2026 (open 1.3274), used for the sterling conversions. https://www.poundsterlinglive.com/history/GBP-USD-2026
