Fintech firm Cross River raises $100M in funding

By Eric Strauss
Fort Lee | Dec 6, 2018 at 10:53 am

Cross River Bank, a Fort Lee-based fintech firm, has raised $100 million in its latest funding round, it announced Thursday. KKR, a New York-based investment firm, led the round with a $75 million equity investment.

Other investors included new participants CreditEase and Lion Tree Partners, as well as returning participants Battery Ventures, Andreessen Horowitz and Ribbit Capital.

Cross River provides services and solutions for other fintech companies, as well as traditional banks.

“We are pleased that our growth and progress has the endorsement of leading investors such as KKR,” Gilles Gade, founder, chairman and CEO of Cross River, said in a prepared statement. “We also welcome new investors CreditEase and Lion Tree Partners, and are especially grateful for the continued confidence of previous investors Battery Ventures, Andreessen Horowitz and Ribbit Capital. This is a very strong signal that we continue to execute on our plan and are poised to take Cross River through its next phase of successful development here in the U.S. and across the globe.”

In its previous funding round, Cross River secured $28 million in venture capital from Battery Ventures, Andreessen Horowitz and Ribbit Capital in late 2016.

Eric Strauss | estrauss@roi-nj.com | acerimrat