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Cross River announces USD 620 mln capital raise

Thursday 31 March 2022 15:28 CET | News

CRB Group, the parent company of Cross River Bank, a technology infrastructure provider that offers embedded financial solutions, has announced a USD 620 million financing. 

The round was led by Eldridge and Andreessen Horowitz, with participation from funds and accounts advised by T. Rowe Price Investment Management, Whale Rock, and Hanaco Ventures. Several of Cross River’s existing investors and significant partners also participated in the round. FT Partners served as exclusive strategic and financial advisor to Cross River on this transaction. 

This new capital will accelerate Cross River’s ongoing technology-focused growth strategy, which includes four core initiatives: building out the company’s embedded payments, cards, lending, and crypto solutions; further investing in its people and communities; continuing to execute against plans for international expansion; and bolstering strategic partnerships.


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Keywords: investment, digital banking, funding
Categories: Banking & Fintech
Companies:
Countries: United States
This article is part of category

Banking & Fintech