About Cross River
Cross River is a company based in Fort Lee (United States) founded in 2008 by Gilles Gade.. Cross River has raised $848 million across 6 funding rounds from investors including KKR, CreditEase and T. Rowe Price. The company has 371 employees as of December 31, 2022. Cross River has completed 3 acquisitions, including Betterfin, PeerIQ and Seed. Cross River offers products and services including API-Driven Banking Infrastructure, Payment Rails, Card Issuing, and Digital Lending. Cross River operates in a competitive market with competitors including Solaris, QI Tech, ClearBank, The Bank of London and Saxo Payments Banking Circle, among others.
- Headquarter Fort Lee, United States
- Employees 371 as on 31 Dec, 2022
- Founders Gilles Gade
- Stage Unicorn
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Cross River Bank
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Annual Revenue
$0 (USD)0as on Nov 30, 2022
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Net Profit
$0 (USD)0as on Nov 30, 2022
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EBITDA
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Total Equity Funding
$848 M (USD)
in 6 rounds
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Latest Funding Round
$620 M (USD), Series D
Mar 30, 2022
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Investors
KKR
& 11 more
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Employee Count
371
as on Dec 31, 2022
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Investments & Acquisitions
Betterfin
& 2 more
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Products & Services of Cross River
Cross River offers a comprehensive portfolio of products and services, including API-Driven Banking Infrastructure, Payment Rails, Card Issuing, and Digital Lending. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables API integration for payments and compliance services.
Facilitates ACH, wires, and real-time payment transactions.
Supports debit, credit, and prepaid card programs.
Offers loan origination and management tools for businesses.
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Software Development Team
106 people
Leadership Team
53 people
Legal and Compliance
27 people
Finance and Accounting
26 people
Operations Team
17 people
Data Analysis and Operations Team
17 people
Senior Team
10 people
Product Management Team
9 people
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Funding Insights of Cross River
Cross River has successfully raised a total of $848M across 6 strategic funding rounds. The most recent funding activity was a Series D round of $620 million completed in March 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series D — $620.0M
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First Round
First Round
(01 Nov 2016)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2022 | Amount | Series D - Cross River | Valuation | a16z , Eldridge Industries | |
| Sep, 2020 | Amount | Debt – Conventional - Cross River | Valuation |
investors |
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| Apr, 2020 | Amount | Series C - Cross River | Valuation | Shefa Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Cross River
Cross River has secured backing from 12 investors, including venture fund and institutional investors. Prominent investors backing the company include KKR, CreditEase and T. Rowe Price. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investments in technology sectors are handled by Andreessen Horowitz.
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Founded Year | Domain | Location | |
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Holding company investing in insurance, asset management, technology, mobility, sports, music, real estate, and consumer sectors
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Founded Year | Domain | Location | |
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Startups are funded through venture capital by Hanaco Ventures.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Cross River
Cross River has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Betterfin, PeerIQ and Seed. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Business loans are facilitated via a lender network for enterprises.
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2017 | ||||
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Risk management tools are provided for P2P lending platforms.
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2014 | ||||
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Commercial lending, compliance, and financial services for banks are provided.
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2014 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Cross River
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cross River Comparisons
Competitors of Cross River
Cross River operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Solaris, QI Tech, ClearBank, The Bank of London and Saxo Payments Banking Circle, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Solaris is recognized as a leading embedded finance platform in Europe.
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| domain | founded_year | HQ Location |
Open banking API solutions are provided for financial product building.
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| domain | founded_year | HQ Location |
Cloud-based open banking API is developed for banking-as-a-service solutions.
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| domain | founded_year | HQ Location |
Provider of banking solutions for businesses, focusing on payments, corporate banking, and embedded finance
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| domain | founded_year | HQ Location |
Open banking APIs are supplied to banks and financial institutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Cross River
Frequently Asked Questions about Cross River
When was Cross River founded?
Cross River was founded in 2008 and raised its 1st funding round 8 years after it was founded.
Where is Cross River located?
Cross River is headquartered in Fort Lee, United States. It is registered at Fort Lee, New Jersey, United States.
Who is the current CEO of Cross River?
Gilles Gade is the current CEO of Cross River. They have also founded this company.
Is Cross River a funded company?
Cross River is a funded company, having raised a total of $848M across 6 funding rounds to date. The company's 1st funding round was a Series C of $100M, raised on Nov 01, 2016.
How many employees does Cross River have?
As of Dec 31, 2022, the latest employee count at Cross River is 371.
What does Cross River do?
Cross River was founded in 2008 and is headquartered in Fort Lee, United States. Open banking API solutions are offered to financial institutions, encompassing loan origination software, banking-as-a-service platforms, asset-based financing, card services, and payment options such as push-to-card, ACH, and wire transfers. Regulatory compliance and cybersecurity threat detection are facilitated, alongside marketplace lending, savings accounts, and purpose-driven accounts within the fintech sector.
Who are the top competitors of Cross River?
What products or services does Cross River offer?
Cross River offers API-Driven Banking Infrastructure, Payment Rails, Card Issuing, and Digital Lending.
How many acquisitions has Cross River made?
Who are Cross River's investors?
Cross River has 12 investors. Key investors include KKR, CreditEase, T. Rowe Price, VCI Global, and Ribbit Capital.
What is Cross River's valuation?
The valuation of Cross River is $3B as of Mar 2022.
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