Uber’s UK Banking Partner Griffin Raises $20M To Expand Stablecoin Services

• UK-based digital bank Griffin has raised $20 million in a funding round led by Octagon Partners.
• The investment values the company at more than $100 million.
• Griffin plans to expand into debit card services, stablecoin reserves and onchain cross-border payments.

Griffin Secures Fresh Funding

UK-based digital bank Griffin has raised $20 million in Series B funding led by Octagon Partners. The funding values Griffin at over $100 million and will be used to boost its banking and stablecoin offering.

We’ve raised our Series B. 🎉

Led by Octagon Partners, with participation from our existing investors.

80+ companies build on Griffin today, including Uber, Yonder, Prosper and Countingup.

Next up: card issuing and stablecoins.

Read the announcement: https://t.co/d2ZN9UaCP5 https://t.co/5gEES9j6xv

— Griffin (@griffinbank) November 12, 2026

Griffin said it will use the funds to support its plans for issuing cards and new payment solutions. It hopes to make it easier for businesses to issue branded debit cards to its customers. It will also be offering credit cards in the future and hopes to improve its stablecoin reserves while developing onchain payment features.

Banking Infrastructure Serves Over Half A Million Customers

Griffin’s banking infrastructure currently serves over 311,000 customers across over 80 companies. It works with a number of high profile brands like Uber which use Griffin’s banking infrastructure to provide drivers with bank accounts.

ICYMI: 2 years ago, we launched as a licensed UK bank with 5 companies testing our systems.

Today: 80+ companies, 311,000+ underlying businesses and retail customers.

We’ve just raised our Series B to expand into cards and stablecoins.

Read: https://t.co/d2ZN9Ua4Zx https://t.co/7Op6OQ6ccE

— Griffin (@griffinbank) November 13, 2026

The company obtained its banking licence in the UK in March 2024 and has since been building up its presence in the digital banking and fintech industry. It said its recurring revenue had increased by 3.2 times compared to last year, ending September. This was based on unaudited figures.

Stablecoin And Cross Border Focus

Griffin’s plans show a growing interest in using stablecoin within businesses. Stablecoin, unlike many cryptocurrencies, is designed to be more stable in value often pegged to a traditional currency like the US dollar.

With improved reserves and onchain cross border payments, Griffin hopes to provide businesses with more options. “We expect Griffin to hit over £10 million ARR (Annual Recurring Revenue) shortly,” said Paraag Dave, Managing Partner at Octagon Partners.

Overall, Griffin has secured extra funding to grow its offering beyond traditional banking. It also has an established customer base thanks to partnerships with companies like Uber.

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