WASHINGTON—Covington advised Enova International, Inc. in its definitive agreement to acquire Grasshopper Bancorp, Inc., and its wholly owned subsidiary Grasshopper Bank N.A., in a cash and stock transaction valued at approximately $369 million.
Enova International is an online financial services company that serves small businesses and consumers who are underserved by traditional banks. For over 20 years, Enova has provided over $65 billion in loans and financing to more than 13 million customers by offering a suite of products powered by the company's analytics, machine learning algorithms, and proprietary technology.
Grasshopper Bancorp, Inc. is a bank holding company and the sole owner of Grasshopper Bank N.A.,a client-first, full service digital bank with total assets of $1.4 billion as of September 30, 2025, serving the business and innovation economy. Grasshopper Bank replaces the traditional one-size-fits-all approach to banking with a suite of products and services tailored to specific industries and a team of experts with deep expertise in their fields.
The Covington team includes Charlotte May, Allison Schiffman, Laura Bleier, Sebastian Marotta, Jason Yu, Libby Brown, and Amanda Wang (corporate), Michael Nonaka, Randy Benjenk, Emily Hooker, and Joseph Wolf (regulatory), Jenna Wallace and Zachary Agudelo (employee benefits), Darren Teshima, Hakeem Rizk, and Tyler Starr (insurance), Heather Haberl, Zach Schutz, and Omosede Irabor (real estate), and Kurt Baca and Lingyun Li (tax).
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