UK fintech Griffin lands £12.5m in latest funding round
Photo by Christin Hume on Unsplash
Fintech brand Griffin has sealed a fresh £12.5 million in funding to help design and launch a new operating system for embedded finance services.
Griffin catches the eye of proven fintech innovators
Their latest funding round was handled by Notion Capital, including previous investor EQT Ventures and a string of additional fintech ‘angels’ such as Plaid co-founder and Column founder, William Hockey. As a result, Notion Capital’s managing partner, Stephen Chandler, has been awarded a place on Griffin’s board of directors.
Chandler has successfully fused the tech and finance worlds in previous years, including his roles with fintech unicorns Paddle and GoCardless.
Specialist venture capitalist firms like Notion aren’t the only reason why funding rounds are still plentiful despite the continued uncertain economic climate. For example, the automation of funding rounds has led to a revolutionary simplification of administrative processes. Once, the process of finalising funding rounds relied on expensive lawyers, indefinite periods of waiting around and the re-use of the same old legal documents.
Yet now, with brands like SeedLegals automating the legal side of funding rounds, it’s cheaper, easier and less time-consuming to close investments. Effectively, SeedLegals streamlines all of the legal workflows to save start-ups thousands in fees that can be invested in growth instead.
Griffin has thrived since its previous round of funding
Griffin last launched a funding round in autumn 2020 and since then it has been on an upward curve. The business has grown three-fold in that time and has already embarked on an ‘early access’ commercialisation of its banking as a service (BaaS) portal. The opportunity to further progress its core banking platform with this fresh investment gives Griffin a legitimate opportunity to disrupt the next-generation finance scene.
Griffin has also demonstrated a fierce commitment to enshrining its company culture throughout its growth path. Its ethos is focused on delivering transparency, kindness and trust, with the overarching goal to become the leading BaaS portal to facilitate innovative financial services and credit products for the future.
That vision is shared by Griffin board member, Tom Mendoza, who believes the financial services sector has “not kept pace with consumer trends” when it comes to banking. Mendoza sees Griffin as serving the ideal purpose of a “developer-friendly bank” that’s underpinned by “modern APIs and intuitive software”.