1. Home >
  2. M&A >
  3. Add-on Acquisition >
  4. United States >
  5. New York >
  6. Enova Acquires Grasshopper Bank

M&A Deal Summary

Enova Acquires Grasshopper Bank

On December 11, 2025, Enova acquired financial services company Grasshopper Bank for 369M USD

Acquisition Highlights
  • This is Enova’s 1st transaction in the Financial Services sector.
  • This is Enova’s largest (disclosed) transaction.
  • This is Enova’s 3rd transaction in the United States.
  • This is Enova’s 2nd transaction in New York.

M&A Deal Summary
Date 2025-12-11
Target Grasshopper Bank
Sector Financial Services
Buyer(s) Enova
Deal Type Add-on Acquisition
Deal Value 369M USD
Advisor(s) Piper Sandler & Co. (Financial)
Squire Patton Boggs
Hogan Lovells (Legal)

Target

Grasshopper Bank

New York, New York, United States
Grasshopper Bank is a digital commercial bank that offers business banking products and financial services tailored to small and medium-sized businesses, startups, and fintech companies. Grasshopper Bank was founded in 2019 and is based in New York, New York.

Search 215,058 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Enova

Chicago, Illinois, United States
Category Company
Founded 2003
Sector Financial Services
Employees1,787
Revenue 2.7B USD (2024)
DESCRIPTION

Enova is a provider of online financial services to non-prime consumers and small businesses, providing access to credit powered by its advanced analytics, innovative technology, and world-class online platform and services. Enova has provided nearly 7 million customers around the globe with access to more than $20 billion in loans and financing. The financial technology company has a portfolio of trusted brands serving consumers, including CashNetUSA, NetCredit, and Simplic; two brands serving small businesses, Headway Capital® and The Business Backer®; and offers online lending platform services to lenders. Through its Enova Decisions brand, it also delivers on-demand decision-making technology and real-time predictive analytics services to clients. Enova was founded in 2003 and is based in Chicago, Illinois.

DEAL STATS #
Overall 3 of 3
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
State: New York M&A 2 of 2
Country: United States M&A 3 of 3
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-19 Pangea

Chicago, Illinois, United States

Pangea is a Chicago-based payments platform offering mobile international money transfer services. Pangea offers a smarter way for people to move money around the world to friends and family. Pangea's powerful, easy-to-use mobile application provides secure, fast, and affordably priced international money transfers from the U.S. to 40 countries with a focus on Latin America and Asia. Pangea was founded in 2012 and is based in Chicago, Illinois.

Buy -
Mergr

Solution for

Product

Company

Legal