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Blockchain

Fintech Firm Cross River Raises $620M Funding, Led by Eldridge & a16z

CRB Group, Inc., the dad or mum firm of fintech firm Cross River Bank, announced a $620 million funding led by Eldridge and Andreessen Horowitz.

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The funds raised will probably be used to construct the corporate’s main embedded fee, card, lending and crypto options Furthermore, to put money into individuals and communities, proceed its worldwide growth plans and strengthen strategic international partnerships.

Gilles Gade, Founder, President and CEO of Cross River mentioned that:

“Cross River is powering the future digital economy and changing lives by reinventing the way financial services are accessed. The quality of the investor group and size of our latest funding make this a landmark transaction in the financial technology arena, and will enable us to accelerate the growth of Cross River as the foundation of modern finance.”

Other traders embrace Rowe Price, Whale Rock and Hanaco Ventures.

Cross River at present supplies mortgage and fee providers to greater than 80 fee firms, together with Affirm, Best Egg, Checkout.com, Divvy, Freedom Financial, Pay.com.

Image supply: Shutterstock

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