NEW YORK, NY // November 15, 2023 – Grasshopper, the client-first digital bank built for the business and innovation economy, today announced its partnership with Capchase, a leading provider of non-dilutive financing solutions for Software-as-a-Service (SaaS) companies, to provide revenue-based financing for enterprise SaaS startups through the bank’s partnership ecosystem, exclusively available to Accelerator Checking clients.
This partnership enables enterprise SaaS startups with an Accelerator Checking account to access Capchase’s non-dilutive, scalable funding options. Capchase offers financing for startups with as little as $150,000 annual recurring revenue (ARR) and delivers access to capital within as little as 48 hours of approval. Once approved, businesses can immediately draw their capital with no restrictions in Capchase’s simple and intuitive platform.
“At Grasshopper, our mission is to serve the business and innovation economy. Supporting startups with an excellent digital banking experience is a big part of that commitment, and our goal is to ensure we have a wide variety of solutions in place to meet their needs,” said Mike Butler, Grasshopper’s CEO. “Our partnership with an innovative company like Capchase combines what we do best on the banking side with creative financing products – a combination that we feel will be very powerful for our startup clients.”
Grasshopper’s work with Capchase expands on the bank’s current product offering for venture-backed startups and represents a valuable addition to its partner marketplace, which launched in October.
Capchase’s financing capabilities will be featured in the marketplace alongside other thoughtfully-curated partnerships, offering services such as Ramp corporate cards, cloud-based communication services, capitalization table management software, startup business insurance, and more. As a strategic partner, Grasshopper also offers startup clients the ability to leverage a new Bank platform called Grasshopper Connect, which is a cultivated community of potential investors from the Bank’s network for those seeking connections and opportunities for fundraising. Combining a feature-packed operating account with the connections and perks available through the Bank’s partnership ecosystem, Accelerator Checking offers startups a holistic solution that supports every stage of their company’s life cycle.
“Current macroeconomic conditions have made it increasingly difficult for startups and founders to secure the capital they need to scale their businesses,” said Capchase Co-Founder and CEO Miguel Fernandez. “Our partnership with Grasshopper makes it easy for SaaS startups to access non-dilutive, revenue-based financing through the bank’s marketplace, which is especially valuable in today’s challenging funding environment.”
Grasshopper and Capchase are committed to serving the needs of startups by helping them grow and succeed throughout their entire business life cycle. Capchase’s financing and revenue services scale with businesses’ ARR growth, providing valuable capital for startups at any stage. Accelerator Checking furthers Grasshopper’s mission to support the business and innovation economy and provides value beyond banking to startups of all sizes.
To learn more about Accelerator Checking, visit www.grasshopper.bank.
About Grasshopper Bank
With total assets of approximately $720 million, Grasshopper is a client-first digital bank serving the business and innovation economy. Grasshopper replaces the traditional one-size-fits-all approach to banking with a suite of products and services tailored to specific industries, and a passionate team of experts with deep expertise in their fields. Grasshopper’s banking solutions cover small business, venture-backed companies, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, commercial real estate lending, and yacht financing. Headquartered in New York City, the bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For more information, visit the bank’s website at www.grasshopper.bank or follow on LinkedIn and Twitter.
About Capchase
Capchase helps B2B SaaS companies grow faster with non-dilutive capital and sales acceleration tools. Founded in 2020 and headquartered in NYC, we’ve worked with over 5,000 businesses and partners to date. Our capital solution, Grow, has made more than $2B in funding available to the SaaS industry. Our revenue management tools, Pay and Collect, help SaaS vendors sell more and collect cash faster. Capchase operates in 10 countries in North America and Europe, and was recognized as one of Fast Company’s Most Innovative Companies and Forbes’ Next Billion Dollar Startups in 2023. To learn more about Capchase, and this partnership, please visit http://capchase.com/partners/grasshopper-bank.
