The deal, structured as a cash-and-stock transaction, would have granted Enova control over Grasshopper’s digital infrastructure and its asset base, which totaled more than $1.4 billion as of September 30, 2025. Under the specific terms of the breakup, Enova paid a $4 million termination fee to Grasshopper. Neither party disclosed the underlying strategic or financial catalysts that prompted the decision to abandon the merger.
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Enova and Grasshopper Bancorp Scrap $369 Million Merger
A $369 million acquisition plan between financial services firm Enova International and digital lender Grasshopper Bancorp has collapsed. The companies confirmed the mutual termination of their merger agreement, which was originally announced in December and intended to fold the 2019-founded bank into Enova’s broader corporate structure as a subsidiary.
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