U.S. Fintech Cross River Secures $100 Million Through Latest Funding Round Led By KKR

U.S. fintech Cross River announced on Thursday it secured $100 million through its latest funding round, which was led by KKR, with participation from CreditEase and Lion Tree Partners, Battery Ventures, Andreessen Horowitz and Ribbit Capital.

Founded in 2008, Cross River stated it combines innovative technologies with the trust, security and established expertise of a bank to create new services and solutions for fintech companies that are redefining global financial services.

“In addition to traditional banking, Cross River has developed partnerships with financial technology leaders to build fully compliant and integrated products for the marketplace lending and payment processing arenas. Current clients consist of leading technology brands, start-ups and financial services firms disrupting global finance including marketplace lenders Affirm, Best Egg, Upstart and RocketLoans as well as financial technology companies like Coinbase and TransferWise.”

While sharing details about the investment round, Gilles Gade, founder, CEO and Chairman of Cross River, stated:

“We are very pleased that our growth and progress has the endorsement of leading investors such as KKR. We also welcome new investors CreditEase and Lion Tree Partners and are especially grateful for the continued confidence of our 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.”

Cross River went on to add that the latest funding round follows $28 million in venture capital secured in late 2016 from Battery Ventures, Andreessen Horowitz and Ribbit Capital.

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