Enova agrees $369m acquisition of Grasshopper Bank

▤ Summary

Enova has agreed to acquire Grasshopper Bancorp and Grasshopper Bank in a cash-and-stock deal valued at about $369 million. The combined business will use Grasshopper’s digital banking infrastructure to support centralized deposit and lending products. Enova expects the deal to simplify operations, broaden growth opportunities, diversify funding, and strengthen its balance sheet. The companies say the combination will expand their product offerings and help them serve more consumers and small businesses.

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