Griffin to raise a £6.5 million capital round led by EQT Ventures.

Griffin, a London, UK-based software developer of a Banking as a Service platform enabling  fintechs and brands to launch financial services quickly and efficiently, announced that it completed a funding round of £6.5 million ($8.6M).

The money was raised from investors led by the Sweden-based VC Eqt Ventures and included contributions from  Seedcamp, Tribe Capital, Paul Forster, Matt Robinson, and Carlos Gonzalez-Cadenas.

The company will use the investment to further product development, hire more people and continue the bank authorisation process with the PRA and FCA.

Griffin, founded in 2017 by David Jarvis (CEO) and Allen Rohner, is building an API-first bank that aims to lower the barrier to entry when it comes to launching new financial products and services. The company aims to become the banking partner of choice for both new fintech players and established brands seeking to innovate. Its proprietary API platform will let firms open ringfenced accounts for customer funds while its integrated compliance engine and ledger will greatly reduce recordkeeping and reconciliation burdens.

Griffin previously raised £3M seed round from venture capital firms Seedcamp and Tribe Capital.