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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