Enova International, a financial services provider specialising in online lending, data analytics and machine learning-driven credit decisioning, has announced a definitive agreement to acquire Grasshopper Bancorp, and its wholly owned subsidiary Grasshopper Bank N.A., a digital-first, client-focused US bank, in a cash and stock transaction valued at approximately $369m.
Enova has built its business over more than two decades as an online lender and financial services partner to FDIC-insured institutions.
Grasshopper, founded in 2019, operates as a full-service digital bank with a strong emphasis on technology-led banking. As of 30 September 2025, the bank reported more than $1.4bn in total assets.
Under the agreement, Grasshopper’s digital banking infrastructure will support the delivery of centralised and scalable deposit and lending products. The combined group expects the transaction to simplify operations, unlock new growth opportunities, diversify funding sources and strengthen the balance sheet.
Enova chairman & CEO David Fisher said, “Acquiring and partnering with Grasshopper creates a powerful digital bank that positions us to offer a more comprehensive suite of financial solutions across more states to empower consumers and small businesses with the products they need to succeed.
“Our complementary capabilities and shared customer-first mindset mean we can grow and innovate faster, together. We’re excited to welcome the Grasshopper team to Enova.”
Grasshopper CEO Mike Butler said, “”We’re thrilled to join forces with Enova, a market leader in digital lending and a true innovator in the use of technology and analytics in the financial services sector. This combination of enhanced digital lending and banking will enable us to serve an even broader set of customers while expanding and strengthening the product offerings for our current clients.”
Read the daily FinTech news
Copyright © 2025 FinTech Global
