Fintech Griffin closes £75.2m led by Octagon Partners with Notion Capital
This article covers Griffin, a fintech startup, closing a growth funding round of £75.2m led by Octagon Partners to expand its agentic banking platform with card issuing and stablecoin services. The funding is intended to deepen Griffin's embedded banking stack and scale services used by more than 80 partner startups, supporting platforms, fintechs and marketplaces to embed accounts, payments and cards into their products.
Griffin, a fintech startup, has closed a growth funding round of £75.2m led by Octagon Partners to expand its agentic banking platform with card issuing and stablecoin services — a move that deepens its embedded banking stack and matters because more than 80 companies already rely on its infrastructure to deliver banking products to their customers.
Why it matters
Griffin is positioning itself as a one-stop banking infrastructure provider for businesses that want to embed accounts, payments and compliance into their products. The new funding — together with a reported valuation above $100m — arrives as the company scales beyond basic account and payments rails to offer cards and on-chain stablecoin capabilities. That broadening of services could accelerate product roadmaps for platforms and fintechs that currently stitch together multiple providers, while increasing the regulatory and operational complexity Griffin must manage under PRA and FCA oversight.
Inside the product
The investment is earmarked for two principal additions.
- Card issuing: Griffin will enable customers to launch branded retail and corporate debit cards directly on its platform, with plans to follow with a credit card offering. Combining accounts, payments and cards on one platform aims to reduce integration time for customers.
- Stablecoin services: Griffin intends to build reserve management for businesses operating with stablecoins and to integrate on-chain cross-border payment flows, extending its proposition into crypto-native payment rails and cross-border settlement.
Today Griffin says its platform powers more than 80 customers — including Uber, Countingup, Anna Money, Yonder and Prosper — serves over 300,000 underlying retail and business customers, and processes nearly 10 million payments per year. These partner examples illustrate the range of use cases Griffin supports: large marketplaces, SME business banking providers and fintech lenders all rely on embedded banking infrastructure for customer-facing financial products.
Who are the investors?
The round was led by Octagon Partners, with participation from Notion Capital, A+ Ventures, Nordic Ninja, Breega and other existing backers.
In the announcement, 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.
The investor line-up mixes specialised growth capital and fintech-focused VCs, signalling continued interest from fintech investors in companies that can package regulated banking services as embeddable infrastructure.
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Founder perspective
In the announcement, David Jarvis, CEO and co-founder at Griffin, said:
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.
Griffin also reported 3.2X year-on-year recurring revenue growth for the year ended September 2026 based on unaudited accounts, and recent recognition — inclusion in the Sifted 250 and Tech Nation’s Future Fifty 2026 cohort — underlines its commercial momentum.
The bigger picture
Griffin’s roadmap reflects a wider trend in embedded finance: startups and platforms increasingly demand bundled, regulated infrastructure that can deliver accounts, cards and novel settlement rails such as stablecoins without the customer needing to assemble multiple vendors. For regulators, the combination of on-chain payments and deposit-taking activity elevates oversight complexity; for incumbents, it presents a competitive challenge from newer banking-licenced infrastructure providers.
The deal also illustrates continued VC appetite for companies that can translate banking licences and compliance into a productisable, platform-level advantage across Europe. As Griffin scales card and stablecoin services, its progress will be a useful bellwether for how quickly mainstream businesses adopt on-chain settlement and bundled banking products in the UK and beyond.
They've invested in Griffin
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