Squire Patton Boggs Advised Grasshopper Bancorp in $369 Million Sale

Squire Patton Boggs Advised Grasshopper Bancorp in $369 Million Sale

Squire Patton Boggs acted as legal counsel to Grasshopper Bancorp in connection with its strategic sale to Enova International, a leading financial services company powered by machine learning and analytics.

The transaction combines Enova’s consumer and small business online lending platform with Grasshopper’s digital banking infrastructure.

The deal, valued at approximately $369 million, is structured as a mix of cash and newly issued Enova shares. Completion of the transaction is subject to Grasshopper stockholder and regulatory approvals and is expected in the second half of 2026.

Grasshopper Bancorp, founded in 2019, operates Grasshopper Bank, a full‑service digital bank with more than $1.4 billion in total assets, and approximately $3 billion in total deposits via its direct and Banking‑as‑a‑Service (BaaS) offerings. The company provides digital financial solutions for commercial and consumer customers, including fintech‑focused BaaS and API banking platforms, commercial and SBA lending, and consumer banking services.

The Squire Patton Boggs team was led by Jim Barresi (Partner), Alison LaBruyere (Partner), Derrick Cephas (Of Counsel), and Samantha Caspar (Senior Attorney).

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