Griffin, a bank for FinTechs and platforms in the United Kingdom, raised $20 million in a Series B funding round that values the startup at $100 million, according to a Wednesday (Nov. 11) company blog post.

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The funding will help Griffin expand into card issuing and stablecoin services, the post 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,” Griffin Co-Founder and CEO David Jarvis said in the post. “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.”

Griffin will enable customers to launch branded retail and corporate debit cards and is planning a credit card offering, according to the post. The company is also developing “reserve capabilities” to support businesses in the stablecoin market and adding 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,” the post said. “This is a natural next step as Griffin continues toward sustainable, profitable growth.”

Launched in 2024, Griffin’s banking platform powers more than 80 companies, including Uber , Countingup , Anna Money , Yonder and Prosper , according to the post.

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