Grasshopper, the client-first digital bank built for the business and innovation economy, today announced its partnership with Capchase, a 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.”
Mike Butler, Grasshopper‘s CEO, said:
“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. 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.”
Capchase Co-Founder and CEO Miguel Fernandez said:
“Current macroeconomic conditions have made it increasingly difficult for startups and founders to secure the capital they need to scale their businesses. 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.”
