TSL Express Daily News

With its newest strategic hire, Grasshopper expands its presence in lending to the private equity market

NEW YORK, NY / ACCESSWIRE / October 24, 2023 / Grasshopper, the client-first digital bank built for the business and innovation economy, today announced its further expansion into lending solutions for private equity firms with the addition of Matthew Deibel as Senior Vice President of Sponsor Banking. Deibel joins the Bank to lead this newest business segment and address a critical aspect of the current market and economic cycle for growth stage companies.

Deibel's hire marks continued momentum for Grasshopper as a digital commercial bank strategically focused on providing comprehensive and creative lending and depository solutions to companies of all stages. Grasshopper has served as an essential partner to private equity and venture capital firms since its founding, and recognizes the specific resources and skill sets needed to succeed in this market. Under Deibel's leadership, the Fund and Sponsor Banking team will drive asset growth and develop relationships with sponsors and borrowers in the lower-middle market through decades of combined transaction experience.

"I am thrilled to join Grasshopper at this exciting time in the Bank's evolution. The Bank's client-first approach and opportunistic mentality to provide creative financing solutions is exceptionally unique in the industry," said Deibel. "In a market where many commercial banks are reducing their growth forecasts, Grasshopper is looking to put money to work. I look forward to the growth and success of this strategic initiative for the Bank and helping Grasshopper become a dominant sponsor finance player for years to come."

With more than 16 years of industry experience, Deibel joins Grasshopper following previous roles as Director at Modern Bank and Vice President at First Merchants Corporation where he was responsible for all elements of transactions with private equity clients including, sourcing, structuring, underwriting, and managing investment opportunities. Prior to that, he held underwriting roles at Antares Capital and GE Commercial Finance.

"We're very fortunate to have Matt leading our sponsor finance effort," said Barbara Fleming, Head of Fund and Sponsor Banking at Grasshopper. "Matt is an experienced leader, and we believe sponsor finance is a natural extension of our fund banking practice and will allow us to engage with an underserved investor community in a meaningful way. With Matt's experience and extensive network, combined with the Bank's leading edge digital capabilities, we are pleased about the opportunities in front of us."

Grasshopper supports its private equity and venture capital clients with a team holding sophisticated underwriting and deal execution expertise, in combination with an industry-leading digital platform to achieve efficient business practices across all elements of a transaction, and consistent, disciplined portfolio management post-close. Grasshopper's approach to this market has led to positive outcomes for clients, strong and seasoned relationships with a variety of industry participants, and an impeccable reputation for success across the market.

To learn more about Grasshopper's Fund and Sponsor Banking capabilities, reach out to Matt Deibel via email at matthew.deibel@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.

Media Contact:

Catharine Rybeck
Caliber Corporate Advisers
catharine@calibercorporateadvisers.com