Grasshopper Bank secures $46.6 million

Grasshopper Bank , a digital bank specializing in business and affinity banking, raised $46.6 million in a round led by Patriot Financial Partners LP, with participation from Glendon Capital Management. The funding supported its April 2025 merger with Auto Club Trust, FSB.

As of June 30, 2025, Grasshopper reported a 53% increase in total assets to $1.33 billion, with deposits up 81% to $2.37 billion and loans totaling $961.8 million—growth driven by both the merger and organic expansion.

The bank uses Greenlite’s AI platform to automate due diligence and accelerate compliant onboarding.

LinkedIn data shows Grasshopper has around 155 employees, up 24% in the past year and 44% over two years.