The Bank Slate


Grasshopper in NYC raises $30M of capital

Grasshopper Bank in New York has raised $30.4 million of fresh capital.

The $305 million-asset bank said in a press release that the investors included Carpenter & Co., Endeavour Capital Advisors, FJ Capital Management, GCP Capital Partners and Patriot Financial Partners. 

Most of those participants were existing investors. 

“Our strategic direction is set,” Mike Butler, Grasshopper’s CEO, said in a press release. “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.” 

Grasshopper, which opened in May 2019, has raised a total of $160 million. Butler, formerly the CEO of Radius Bank, became the bank’s CEO last year. 

The bank recently signed up its first Banking-as-a-Service client.

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