Griffin announces Series B to add cards and stablecoin payments capabilities to its agentic banking platform

• Griffin now valued above $100m as the company accelerates its roadmap
• Funding will be used to expand Griffin’s offering into cards and stablecoins

Griffin, the UK bank for fintechs and platforms, today announces its Series B funding round, led by Octagon Partners, with participation from Notion Capital, A+ Ventures, Nordic Ninja, Breega and other existing investors.

The investment values the company at over $100m with Octagon leading the $20M round. The financing will support Griffin through to profitability as well as the next phase of Griffin’s growth, expanding its agentic banking platform into card issuing and stablecoin services and broadening the infrastructure available to businesses building financial products.

Since launching as a fully licensed UK bank two years ago, Griffin has grown from an initial cohort of five companies testing its systems to a clearing and embedded, or white-labelled, banking platform that now powers over 80 companies including Uber, Countingup, Anna Money, Yonder and Prosper. Griffin’s platform now serves more than 300,000 underlying retail and business customers and processes nearly 10 million payments per year.

Building on growing customer adoption

As of its September 2026 year end, Griffin experienced 3.2X year-on-year recurring revenue growth*. This momentum has seen Griffin named to the Sifted 250, the ranking of Europe’s fastest-growing startups by revenue, and admitted into Tech Nation’s Future Fifty 2026 cohort, which brings together 25 of the UK’s highest-impact scaleups.

“Since launching as a bank two years ago, we’ve built the infrastructure that over 80 companies now rely on to bring banking products to their customers. 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. We’re delighted to have Octagon leading this round alongside our existing investors.”

— David Jarvis, CEO and co-founder, Griffin

More capabilities on one banking platform

The investment will support two major additions to Griffin’s offering:

• Card issuing: Enabling customers to launch branded retail and corporate debit cards through Griffin, bringing accounts, payments and cards together on its banking infrastructure. Griffin also plans to fast-follow this initial launch with a credit card offering.
• Stablecoin services: Developing reserve capabilities to support businesses operating in the stablecoin market and integrating on-chain cross-border payments capabilities.

These will extend Griffin’s proposition from core bank accounts, payments and compliance infrastructure to a much broader embedded finance stack, deepen Griffin’s relationships with its existing customers, and widen the range of use cases it can support. This is a natural next step as Griffin continues towards sustainable, profitable growth.

Speaking on the round, Paraag Davé from Octagon noted:

“Griffin has grown rapidly from its launch in 2024 to powering over 80 fintechs and platforms who trust Griffin to move fast without compromising on compliance and will shortly clear double digit £m in annual recurring revenue. The growth over the past two years since getting the full banking licence, both in customers and in revenue, speaks for itself.”

“Griffin’s combination of proprietary technology and AI provides a scaffolding for embedded banking under a dual PRA/FCA regulatory regime that represents the sort of defensible moat that neither traditional fintechs nor traditional banks can compete with.”

*Based on unaudited financial accounts for the year ended September 2026. Figures are subject to change pending completion of Griffin’s statutory audit.