Pocketbook has selected Grasshopper to provide its small- to medium-sized business (SMB) customers with white-labeled, FDIC-insured commercial checking accounts.
The rollout of the products offered by this new partnership was also facilitated by Treasury Prime, the companies said in a Tuesday (March 5) press release.
“Pocketbook exists to serve as a trusted partner for small business owners,” Bryan Crumpler, co-founder and CEO of Pocketbook, said in the release. “We are dedicated to developing the right tools to free up valuable time for hard-working entrepreneurs so they can grow their businesses and leave the rest to us.”
The company’s white-label embedded financial solution provides payments, banking and business tools to SMBs, according to the release.
To give its customers secure access to commercial checking accounts, Pocketbook partnered with Grasshopper, a digital bank built for the business and innovation economy, the release said.
The two companies also partnered with Treasury Prime, provider of an embedded banking software platform, per the release. Treasury Prime and Grasshopper will work together to manage the operations and money movement via an application programming interface (API) integration with Pocketbook.
Together, the companies went from project kickoff to live onboarding in less than 65 days, the release said.
“This partnership extends each company’s commitment to providing clients with leading digital products to better support their banking capabilities, including the fundamental aspects of business payments,” the press release said. “Grasshopper and Treasury Prime identified Pocketbook as a valuable partner in ensuring small businesses can operate their business under a unified platform across initiating payments, sending invoices, accepting payments and more.”
In an earlier collaboration, Pocketbook said in March 2023 that it partnered with Bond to help SMBs deploy digital wallets.
In that case, by adding Bond’s embedded finance platform to Pocketbook’s own solution, Pocketbook enabled its customers to accept payments directly from their own branded digital wallet.
Meanwhile, Grasshopper said in July that it teamed up with Cable to equip its clients and banking-as-a-service (BaaS) platform with automation and technology for financial crime assurance, testing and oversight.
In that collaboration, Grasshopper began leveraging Cable’s automated assurance and testing capabilities.
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