Fort Lee-based Cross River Bank on Monday announced that its Principal Finance Group closed $825 million of capital commitments in 2023.
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The new investments, which include senior secured credit facilities as well as programmatic asset purchase arrangements, provide specialty finance platforms with additional capital to scale their commercial and consumer financing products.
“The strong growth of our business in 2023 reflects our unwavering commitment to supporting fintech pioneers and accelerating the pace of financial innovation,” Rahul Jha, head of principal finance at Cross River, said. “We plan to deploy even more capital in the year ahead.”
Cross River’s Principal Finance Group is a specialized team focused on providing credit facilities and forward flow purchase arrangements to empower the growth of fintech platforms and their investors.