American Banker
By Miriam Cross
August 01, 2022
The digital bank Grasshopper is attracting more capital.
On Monday, the New York City company announced a $30.4 million capital raise, bringing the digital commercial bank's total funding to date to $160 million. The funding came from existing investors including Patriot Financial Partners, Endeavour Capital Advisors, FJ Capital Management and Carpenter & Co., as well as a new investor, GCP Capital Partners.
"Our strategic direction is set,” Mike Butler, Grasshopper's CEO, said in a news release. “Therefore, the new capital will further support our growth and solidify our ability to provide clients with leading-edge technology and personalized digital banking solutions across the business and innovation economies."