DIGITAL BANK GRASSHOPPER RAISES $30.4M
Grasshopper, a US digital bank serving SMEs and entrepreneurs, has raised $30.4 million.
Patriot Financial Partners, Endeavour Capital Advisors, FJ Capital Management, Carpenter & Company, and GCP Capital Partners joined the round, which brings Grasshopper’s total funding to $160 million.
Grasshopper serves founders, their companies, and the investors supporting them across the innovation economy. The lender offers a suite of products and services tailored to specific industries, covering small businesses, venture-backed companies, fintech-focused BaaS and commercial API banking platforms, SBA lending, commercial real estate lending, and yacht financing.
Over the last year, the bank has rebuilt its entire technology platform, from the core banking system and API middleware to front-end digital account opening, digital banking and fraud prevention systems.
It has also seen an 84% growth in total assets, 358% growth in loans, and 192% growth in core deposits on June 30, 2022, compared to the same period in 2021.
Success is not final; failure is not fatal: It is the courage to continue that counts. Congratulation to the entire team at grasshopper for your funding. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
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