# Grasshopper Bank

> Grasshopper Bank is a U.S. nationally chartered digital bank serving small businesses, startups, investment firms and fintech platforms. It combines deposit accounts, payments, business lending and embedded banking infrastructure, and expanded into affinity consumer banking through its 2025 Auto Club Trust acquisition.

- **Founded:** 2019
- **Headquarters:** New York, United States
- **Founders:** Judith Erwin (Co-founder and founding CEO), Minerva Tantoco (Co-founder and founding CTO)
- **Products:** Innovator Business Checking and Savings, Accelerator Checking and Savings, Embedded Finance and API Banking, SBA Lending, Innovator Term Loan
- **Notable:** Opened as a nationally chartered bank in 2019., Completed the Auto Club Trust merger on April 1, 2025., Reported $1.59 billion in assets at year-end 2025.

## Products & services

- **Innovator Business Checking and Savings** — Digital deposit accounts for small and mid-sized businesses, with payment tools and accounting integrations.
- **Accelerator Checking and Savings** — Deposit accounts tailored to startups and venture-backed businesses.
- **Embedded Finance and API Banking** — Banking infrastructure for fintech partners to embed accounts and payments.
- **SBA Lending** — SBA 7(a) and 504 lending, with Lendio supporting a digital acquisition and decisioning channel.
- **Innovator Term Loan** — Unsecured term lending for eligible existing Grasshopper business banking clients.
- **MCP-based AI Connector** — Permissioned, read-only bank-data access through Claude and ChatGPT; the documented beta cannot initiate payments.
- **Grasshopper Treasury** — Waldo-powered investment portfolios and insights for eligible business clients; investments differ from insured bank deposits.
- **Affinity Consumer Banking** — White-label consumer deposit and lending offerings through the Auto Club Group relationship.
- **Specialty Commercial Banking** — Commercial real estate, venture capital/private equity and sponsor finance services.

## Achievements

- Opened as a nationally chartered bank in 2019.
- Completed the Auto Club Trust merger on April 1, 2025.
- Reported $1.59 billion in assets at year-end 2025.
- Won Best Use of Tech in Business Banking at Banking Tech Awards USA in 2025.

## Latest updates

- **2026-10** — Enova and Grasshopper mutually terminated their merger agreement on October 16. Enova paid Grasshopper $4 million.
- **2026-09** — Enova withdrew acquisition-related OCC and Federal Reserve applications, citing its concerns about the regulatory process.
- **2026-07** — FreshBooks partnership announced; the company page carries July 21 while the release body is dated July 28.
- **2026-07** — Grasshopper announced an Increase-powered stablecoin payments capability; the release body is dated June 29 and the page July 1.
- **2026-06** — Grasshopper Treasury launched with Waldo on June 9.

## Links

- Website: https://www.grasshopper.bank/
- LinkedIn: https://www.linkedin.com/company/grasshopperbank/
- Twitter/X: https://twitter.com/grasshopperbank
- YouTube: https://www.youtube.com/@grasshopperbank
- Instagram: https://www.instagram.com/grasshopperbank/
- Facebook: https://www.facebook.com/grasshopperbank/

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Profile page: https://yespress.io/grasshopper-bank
Published by YesPress — https://yespress.io
Last updated: 2026-10-26