Cross River has announced an agreement to acquire Accrue, a Fintech company that offers a branded wallet that supports rewards and loyalty programs. The acquisition is described as another milestone in Cross River’s efforts to grow its embedded finance offerings. Terms of the deal were not immediately available. The Accrue team will move over to Cross River, with the founder and CEO leading the embedded finance charge.
Gilles Gade, Cross River’s Founder and CEO, said payments and loyalty are “becoming one.”
“Every brand wants its own wallet, and with Accrue, all of our clients can now build one on our platform. We never stop innovating, and we are excited to work with Michael Hershfield and his team to help our clients build the financial super apps of the future.”
The acquisition is expected to better position Cross River in the embedded finance sector by bringing branded wallets, payments, stored value, and rewards to brands at scale.
