CRB Group, Inc., parent company Cross River Bank Fort Lee: NJ-based provider of technology infrastructure that provides embedded financial solutions, raised $620m.
Eldridge, Andreessen Horowitz, as well as funds and accounts advised T. Rowe Price Investment Management, Inc., Whale Rock, Hanaco Ventures, led the round. Several of Cross River’s existing investors and partners also participated in the round.
This new capital will accelerate the company’s ongoing technology-focused growth strategy, which includes four core initiatives:
- building out the company’s embedded payments, cards, lending and crypto solutions;
- Continue investing in its peoples, and local communities.
- Continuating to implement plans for international expansion;
- bolstering strategic partnerships that underscore Cross River’s commitment to reshaping global finance and promoting financial inclusion.
Gilles Gade, Founder and President of Cross River, is currently the CEO and president. Cross River has over 80 technology partners like Affirm, Best Egg and Checkout.com. Its technology infrastructure is the foundation that enables these companies to deliver core fintech solutions at scale—from payments and cards to lending and crypto—for businesses and consumers across the globe. The company’s offerings are rooted in regulatory compliance and consumer protection, and its real-time, proprietary API-based core was built to drive agile and scalable financial services for the next generation.