How Much Did Cross River Raise? Headquarters, Funding & Key Investors

Cross River has raised a total of $848 million across multiple funding rounds, including a $28M venture round (2016), $100M Series C (2020), $106M debt financing (2020), and a $620M Series D (2022) led by Andreessen Horowitz, T. Rowe Price, and Eldridge Industries, valuing the company at $3 billion. Founded in 2008 and headquartered in Fort Lee, New Jersey, Cross River provides open banking APIs, loan origination software, and payment infrastructure that power modern digital banking, fintech innovation, and regulatory compliance for financial institutions globally.

How Much Did Cross River Raise? Funding & Key Investors

Cross River is a provider of open banking API solutions for financial institutions, offering products such as loan origination software, banking-as-a-service APIs, cards, asset-based financing, and payment solutions including ACH, push-to-card, and wire transfers. The company has raised $848M in funding from top investors like T. Rowe Price and Shefa Capital, and currently holds a valuation of $3B (as of March 30, 2022).

What Is Cross River and What Does It Do?

Cross River, founded in 2008 by Gilles Gade, is headquartered in Fort Lee, New Jersey. The company specializes in API-driven financial solutions and banking infrastructure, enabling financial institutions to streamline operations, manage regulatory compliance, detect cybersecurity threats, and offer innovative banking services.

Cross River provides tools such as loan origination software, purpose-driven accounts, marketplace lending solutions, and ACH/FedNow® payment processing. The platform also supports asset-based financing, cards, and other banking-as-a-service functionalities. With a workforce of over 500 employees, Cross River empowers clients to efficiently scale digital banking and financial offerings while ensuring regulatory adherence and secure operations.

How Much Funding Has Cross River Raised?

1. Venture Round

Amount Raised: $28M
Date: November 2016
Lead Investors: Battery Ventures LP, Andreessen Horowitz, Ribbit Capital
Valuation at Round: Not publicly disclosed
Motivation: Venture investors saw value in scaling a traditional bank with fintech capabilities rather than disruptive startups.

2. Series C

Amount Raised: $100M
Date: April 2020
Lead Investors: Shefa Capital, V Capital
Motivation: Expand API offerings and enhance digital banking services.

3. Conventional Debt

Amount Raised: $106M
Date: September 2020
Motivation: Support operational growth and liquidity.

4. Series D

Amount Raised: $620M
Date: March 2022
Lead Investors: Andreessen Horowitz, Eldridge Industries, Whale Rock Capital Management, Hanaco Ventures, T. Rowe Price
Motivation: Fuel innovation, expand product suite, and scale digital banking infrastructure.

Total Funding Raised: $848 Million

Current Valuation: $3 Billion (as of March 2022)

Latest Funding Date: March 2022

Key Investors

1. Battery Ventures LP

Details: Venture capital firm investing in technology and innovation-driven companies since 1983.
Investment Focus Areas: Technology, software, industrial tech
Notable Investments: Nutanix, Coupa Software, Glassdoor

2. Andreessen Horowitz

Details: Leading VC firm co-founded by Marc Andreessen and Ben Horowitz.
Investment Focus Areas: Technology, biotech, fintech
Notable Investments: Facebook, Twitter, Airbnb

3. Ribbit Capital

Details: VC firm specializing in fintech and financial services innovation, founded in 2012.
Investment Focus Areas: Fintech, insurance, cryptocurrency
Notable Investments: Coinbase, Robinhood, Credit Karma

Where Is Cross River’s Headquarters?

Cross River is headquartered in Fort Lee, New Jersey, strategically positioned to access financial institutions across the U.S., facilitate talent acquisition, and maintain strong regulatory connections in the banking and fintech ecosystem.

What’s Next for Cross River?

Cross River is well-positioned to expand into digital lending, infrastructure services, and banking-as-a-service offerings. With robust capabilities such as ACH, FedNow®, and loan origination, the company can meet the growing demand for seamless financial solutions.

This capital is expected to drive further innovation, expand offerings, and strengthen market reach. Challenges include navigating regulatory compliance and competition from both traditional banks and emerging fintech startups.

Get Investor & Funding Insights with TexAu

TexAu helps sales and business teams uncover detailed fundraising information on companies like Cross River. Use the platform to research investors, track funding rounds, and gather actionable insights to strengthen prospecting and business strategy.