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.

Mike Butler, CEO, Grasshopper, says: “Our strategic direction is set. 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.”