Credit investments further Company’s mission to support fintech partners’ ability to scale and expand capabilities
Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, today announced that its Principal Finance Group closed $825 million of capital commitments in 2023. 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,” said Rahul Jha, Head of Principal Finance at Cross River. “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.
About Cross River
Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240205641892/en/
Contacts
Media Contact
Cross River
Mackenzie DeLuca
201-808-7000 ext. 778
mdeluca@crossriver.com
Business Contact
Leonard Losquadro
Principal Finance Group
201-808-7000 ext. 9137
llosquadro@crossriver.com
