Cross River Bank, the Fort Lee-based fintech and financial services company, has created a venture capital arm, it announced Tuesday.
Cross River Digital Ventures will seek to invest in companies in sectors such as lending, payments, investing and financial technology.
“Cross River already powers some of the largest companies in fintech, and this new endeavor will help us identify and make additional strategic investments,” Gilles Gade, Cross River’s founder, chairman and CEO, said in a prepared statement. “Similar to Cross River, we are looking for special companies that are trying to change the world through innovation.”
Cross River Digital Ventures has already invested in companies including:
- Innvoative Assessments, a fintech startup focused on psychometrics;
- Lev, a tech-focused commercial real estate financing advisory firm;
- Finix Payments, a payments infrastructure provider.
“By providing strategic support to early-stage companies, we can build on the Cross River momentum to fuel and strengthen the next wave of fintech innovation,” Hillel Olivestone, Cross River’s head of corporate development, said in a statement. “These are promising startups that align with Cross River’s mission and values, and we look forward to working with them to grow and expand the fintech ecosystem.”