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Cross River Bank has raised $720.0M across 2 funding rounds.
Key people at Cross River Bank.
Cross River Bank was founded in 2008 by Gilles Gade (Founder & CEO).
Cross River Bank has raised $720.0M in total across 2 funding rounds.
Cross River Bank is a Fort Lee, New Jersey-based financial institution that provides technology infrastructure and embedded Banking-as-a-Service solutions to various financial technology companies. The organization operates a proprietary API-based core operating system that enables its partners to offer compliant payment, marketplace lending, and capital markets products to end consumers. Operating with $1 billion in equity and $8 billion in total assets, the commercial bank has facilitated nearly one billion payment transactions across its network. Through more than 120 technology partnerships, the platform has powered credit access for nearly 100 million customers, serving prominent fintech clients such as Stripe, Coinbase, Affirm, and Upstart. The institution continues to expand its backend banking services to support digital assets and artificial intelligence advancements within the broader financial sector. Cross River Bank was originally founded in 2008 by Gilles Gade.
Key people at Cross River Bank.
Cross River Bank is a financial technology company that combines traditional banking trust and regulatory compliance with cutting-edge technology solutions. It builds API-driven banking infrastructure and payment platforms that serve fintech companies, enabling them to offer lending, payments, and credit products to consumers and businesses. Cross River’s technology empowers partners like Affirm, Upgrade, and Plaid to scale their financial services efficiently while ensuring consumer protection and regulatory adherence. The company addresses gaps left by legacy banks, particularly in credit access and payment innovation, and has shown strong growth by expanding its product suite and fintech partnerships[1][3][4].
Founded in 2008, Cross River Bank began as a traditional bank in New Jersey but quickly evolved by embracing technology partnerships starting in 2010. Early on, it recognized the opportunity to serve fintech platforms by underwriting loans and providing banking services outside its physical footprint. The founders and leadership focused on building a proprietary banking core system (Cross River Operating System, COS) to support scalable, API-based financial services. This evolution allowed Cross River to expand beyond lending into payments and credit-building tools, positioning itself as a technology-driven bank that balances innovation with compliance[1][2].
Cross River rides the wave of embedded finance and fintech innovation, where traditional banking services are integrated seamlessly into digital platforms via APIs. The timing is critical as consumer demand for faster, more accessible credit and payment options grows, alongside regulatory scrutiny that requires strong compliance frameworks. By bridging legacy banking with modern technology, Cross River enables fintech startups and established companies to scale financial products quickly and securely, influencing the broader ecosystem by accelerating financial inclusion and digital payment adoption[1][3][4].
Looking ahead, Cross River is poised to deepen its role as a foundational banking partner for fintech innovation, expanding its product offerings in payments and credit solutions. Trends such as real-time payments, embedded finance, and financial inclusion will shape its trajectory. Its ability to maintain regulatory compliance while innovating rapidly will be crucial as competition intensifies. Cross River’s continued investment in technology and partnerships suggests it will remain a key enabler in the evolving financial services landscape, helping to redefine how consumers and businesses access credit and payments[1][3][4].
Cross River Bank has raised $720.0M across 2 funding rounds. Most recently, it raised $620.0M Series D in March 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 1, 2022 | $620M Series D | — | Andreessen Horowitz, B Capital Group, Coatue, Hanabi Capital, Hanaco Ventures, Pitango Venture Capital, Team8, Vertex Ventures Israel, Ameet Patel | Announced |
| Dec 1, 2018 | $100M Series B | — | Album VC, Balderton Capital, Ftac Ventures, Incite Ventures, Kickstart Fund, Point72 Ventures | Announced |
Cross River Bank was founded in 2008 by Gilles Gade (Founder & CEO).
Cross River Bank has raised $720.0M in total across 2 funding rounds.
Cross River Bank's investors include Andreessen Horowitz, B Capital Group, Coatue, Hanabi Capital, Hanaco Ventures, Pitango Venture Capital, Team8, Vertex Ventures Israel, Ameet Patel, Album VC, Balderton Capital, FTAC Ventures.
