Cross River Bank’s parent company, CRB Group Inc., has raised $50 million in common equity from existing investors, with funds advised by T. Rowe Price Investment Management leading the round. The new capital values the fintech-focused bank at slightly above $3 billion, according to Bloomberg, and is intended to advance what Cross River calls “embedded finance 2.0” — the bundling of crypto, lending, payments, and cards on a single platform with a sophisticated AI layer. Cross River positions itself as a technology infrastructure provider that powers embedded financial services for over 100 partners, including major fintech and tech names such as Stripe, Plaid, Coinbase, Checkout, X (formerly Twitter), Affirm, and Upstart. The fresh funding will be used to scale the bank’s crypto capabilities, accelerate its AI strategy and global expansion, deepen strategic partnerships, and support new product launches across payments, capital markets, and lending. The move underscores ongoing investor confidence in regulated, bank-based providers of crypto and embedded finance infrastructure at a time when regulatory scrutiny of both sectors remains intense; Cross River has previously been noted for its role as a behind-the-scenes banking and payments backbone for consumer-facing fintechs and crypto platforms.

AI-generated background, compiled from web sources — not editorial content.

More coverage

Explore the topic

Loading related coverage…

Explore the full feed

Comments

Loading comments…