Led by Patriot Financial Partners, the funding accelerates Grasshopper’s expansion in digital banking products, SBA lending, and fintech-as-a-service.
Highlights:
Successful Capital Raise: Grasshopper Bank, a U.S.-based digital commercial bank, raised $46.6 million in its latest round, led by Patriot Financial Partners LP, with Glendon Capital Management participating.
Support for Major Merger: The capital follows the April 2025 merger with Auto Club Trust, FSB, and will help scale digital tools, expand SBA lending, product offerings, and enhance Banking-as-a-Service (BaaS) capabilities.
Strategic Governance Enhancement: The bank also appointed several seasoned board members—including finance and fintech leaders—to support its broader tech-enabled banking strategy.
Summary:
Grasshopper Bank, headquartered in New York and focused on serving small business, fintech-enabled firms, startups, and innovation economy clients, has successfully secured a $46.6 million funding round led by Patriot Financial Partners LP, with backing from Glendon Capital Management. This marks a key milestone in accelerating growth following its merger with Auto Club Trust, FSB, earlier in 2025
The fresh capital will reinforce the bank’s digital infrastructure—expanding its Banking-as-a-Service platform, SBA lending, commercial real estate financing, and other tailored digital offerings. These products aim to support business customers with flexible financing, API-enabled banking, and digital-first commercial tools
Additionally, Grasshopper has enhanced its governance by appointing new board members with extensive experience in banking, fintech, and capital markets, positioning the bank for its next strategic phase of innovation and growth
