# Grasshopper Bank: Banking, New York, United States

> Grasshopper Bank: Grasshopper Bank is a digital bank based in New York City, founded in 2019 to support small businesses, startups, and the innovation economy.

Source: https://millionrounds.com/startup/grasshopper-bank-2 (Millionrounds; every figure on the page links to its filing or article)

United States · [Banking startup](https://millionrounds.com/companies)

# Grasshopper Bank

Grasshopper Bank is a digital bank based in New York City, founded in 2019 to support small businesses, startups, and the innovation economy.

Funding reported Last round: Private Equity

Banking New York, United States

Company summary

- **Founded:** 2019 7 years old
- **Team:** 120 51 to 200 people
- **Funding reported:** $145M in dollars
- **Last round:** Private Equity Aug 2025

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for Grasshopper Bank has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About Grasshopper Bank

Grasshopper Bank is a digital bank based in New York City, founded in 2019 to support small businesses, startups, and the innovation economy.

As a fully chartered and FDIC-insured bank, it operates without physical branches, providing a modern banking experience with approximately $1.4 billion in total assets. The bank offers tailored solutions for various sectors, including business banking with Innovator Business Checking and high-yield savings accounts. It also provides dedicated banking services for startups and venture-backed companies, along with Banking-as-a-Service (BaaS) and commercial API platforms for fintech firms. Grasshopper Bank features no monthly or overdraft fees, allowing customers to open accounts quickly and securely. Its services are designed for US-based small businesses, freelancers, and investors in the innovation economy.

## What company datasets say Grasshopper Bank raised

Funding, as reported

Reported in all **$145M** in dollars

Last round **Private Equity**

Last round size **$47M**

Last round date **Aug 2025**

Investors listed **5**

## Founders and team

From Grasshopper Bank's own website: 10 on the team.

- **Mike Butler** Chief Executive Officer
- **Chris Mastrangelo** Chief Risk Officer
- **Chris Tremont** Chief Digital Officer
- **Jai Raju** Chief Data Officer
- **Mike Lenahan** Chief Financial Officer
- **Pete Chapman** Chief Technology Officer
- **Steve Kerr** Chief Credit Officer
- **Arthur Birenbaum** Head of Commercial Real Estate
- **Gabrielle Piasio** Head of Fund & Sponsor Banking
- **Lynn Gibson** Head of Human Resources

## On 3 portfolio pages

Investors who name them

- [Golden Seeds](https://millionrounds.com/fund/golden-seeds)
- [GCP Capital Partners](https://millionrounds.com/fund/gcp-capital-partners)
- [1st & Main Growth Partners](https://millionrounds.com/fund/1st-and-main-growth-partners)

Each firm lists Grasshopper Bank on its own website. That is the firm's claim, a weaker thing than a round we watched, but a named source.

## The company, in detail

What they build

Known for

private equity banking digital payments security measures startup financing strategic partnerships ai-powered banking ach transfers venture capital financing payment automation founders 24/7 online banking virtual debit card digital compliance tools mobile banking treasury management interest rate optimization

Built with from their website

Amazon SES Draftpress HFCM Atlassian Mimecast WP Engine SWIFT Apple Business Manager AI Microsoft Excel MySQL

+8 more

SQL POINT Portal DocuSign Colorlib Shapely Duo Security Amazon AWS nCino Cloud Banking Platform

- **Sector:** Banking
- **Industry code:** NAICS 522110, SIC 6021
- **Region:** New York
- **Part of:** Enova International
- **Revenue:** $61M a year, as listed

## Banking in United States

Startups like it

- [**Erebor** Columbus *Raised*](https://millionrounds.com/company/erebor)
- [**Relay** San Francisco · founded 2021 *Raised*](https://millionrounds.com/company/relay)
- [**Nymbus** Jacksonville · founded 2015 *Raised*](https://millionrounds.com/company/nymbus)
- [**Fintiv** Austin · founded 2018](https://millionrounds.com/startup/fintiv)
- [**Harris Bank** Chicago](https://millionrounds.com/startup/harris-bank)
- [**Thread Bank** Brentwood](https://millionrounds.com/startup/thread-bank)
- [**Found** San Francisco · founded 2019](https://millionrounds.com/startup/found-5)
- [**Climate First Bank** Saint Petersburg · founded 2020](https://millionrounds.com/startup/climate-first-bank)

## Is this your company?

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