CRB Group, Inc., the parent company of fintech company Cross River Bank, announced a $620 million investment led by Eldridge and Andreessen Horowitz.
The funds raised will be used to build the company’s leading embedded payment, card, lending and crypto solutions Furthermore, to invest in people and communities, continue its international expansion plans and strengthen strategic global partnerships.
Gilles Gade, Founder, President and CEO of Cross River said that:
“Cross River is powering the future digital economy and changing lives by reinventing the way financial services are accessed. The quality of the investor group and size of our latest funding make this a landmark transaction in the financial technology arena, and will enable us to accelerate the growth of Cross River as the foundation of modern finance.”
Other investors include Rowe Price, Whale Rock and Hanaco Ventures.
Cross River currently provides loan and payment services to more than 80 payment companies, including Affirm, Best Egg, Checkout.com, Divvy, Freedom Financial, Pay.com.
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Source: https://blockchain.news/news/fintech-firm-cross-river-raises-620m-funding-led-by-eldridge-a16z