Griffin Raises $20M Series B for Stablecoin Expansion

Griffin has raised $20 million in a Series B round led by Octagon Partners, with participation from Notion Capital, A+ Ventures, Nordic Ninja, Breega and existing investors. The financing values the UK bank at more than $100 million and will support its next phase of growth. The round is intended to expand Griffin’s platform into card issuing and stablecoin services, rather than fund stablecoin development alone.

Griffin plans to build reserve capabilities for businesses operating in the stablecoin market and add on-chain cross-border payment functionality. The bank also intends to launch branded retail and corporate debit cards, followed later by a credit card offering. The stablecoin expansion adds another layer to a platform already serving more than 80 companies and over 300,000 underlying retail and business customers.

The funding is also expected to support Griffin through to profitability as it broadens its embedded banking infrastructure. The company reported 3.2x year-on-year recurring revenue growth for the year ended September 2026, based on unaudited accounts. The next milestone will be the rollout of its planned stablecoin and card capabilities, with adoption by existing and new customers providing the clearest measure of execution.

Source: Griffin.

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