USA – Grasshopper, a NYC-based digital bank serving small businesses and the innovation economy, raised $30.4M in equity funding.
Backers included existing investors Patriot Financial Partners, Endeavour Capital Advisors, FJ Capital Management and Carpenter & Company, as well as new investor GCP Capital Partners. The company intends to use the funds to advance future strategic growth initiatives via lending, deposit and payment solutions for small businesses. Led by Mike Butler, CEO, Grasshopper is a client-first digital bank serving founders, their companies, and the investors supporting them across the innovation economy. Its banking solutions cover small business, venture-backed companies, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, commercial real estate lending, and yacht financing. The bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. It has over $500 million in total assets under management. The round brought the digital commercial bank’s total funding to date to $160 million. 01/08/2022
