Key facts
- Griffin said its platform serves more than 300,000 retail and business customers through more than 80 companies.
- Uber uses Griffin to provide bank accounts to UK drivers, according to Griffin.
- Griffin plans to let companies offer branded retail and corporate debit cards, with credit cards to follow.
- Octagon managing partner Paraag Davé said he expects Griffin's annual recurring revenue to exceed 10 million pounds soon.
Griffin, a UK-based digital bank, raised $20 million in a Series B round led by Octagon Partners, valuing the company at more than $100 million, it said in a press release on November 12, 2026.
The bank said the funding will support its expansion into card issuance and stablecoin services. Griffin plans to let companies offer branded retail and corporate debit cards through its platform, with credit cards to follow. It also plans to expand its stablecoin reserve services and add onchain cross-border payments.
Griffin said its banking platform serves more than 300,000 retail and business customers through more than 80 companies, including Uber, which uses Griffin to provide bank accounts to UK drivers. Griffin received its UK banking license in March 2024.
The bank said recurring revenue at its September fiscal year-end was 3.2 times the prior year's level, based on unaudited accounts. Paraag Davé, managing partner at Octagon, said he expects Griffin's annual recurring revenue to exceed 10 million British pounds soon.