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Cross River Bank, Inc. provides personal and corporate banking products and services to individuals and businesses in the United States. It focuses on banking activities such as taking deposits, mortgage facilities, direct & marketplace lending, lending through different peer-to-peer lending portals, etc. The platform also enables experienced lenders and financial technology companies to provide credit services to pay vendors, individuals or schedule cash disbursements and processes payments. Recently, Cross River was selected for the 2019 Forbes Fintech 50 startups list.
PRODUCTS & SERVICES
The company’s personal and corporate banking products and services include checking, savings, and a variety of deposit accounts. Its direct lending loans, including Commercial real estate (CRE) loans for financing the acquisition, redevelopment, and refinancing of office, mixed-use, industrial, retail, commercial condominiums, and multi-family property types in the New York, New Jersey, and Connecticut metro areas loans.
VALUATION / MARKET CAP:
$1 B in 2018
After the latest funding round, the company's valuation is at $1 billion. (Dec. 2018)
$10M+ in 2018
The company generated an annual revenue of $130 million in 2018.
The company has originated $20 billion in loans and is growing at a 30% rate.
Gilles Gade (CEO)
BOARD MEMBERS AND ADVISORS
Yitz (Emil) Stern
and Mark Wagener.
NUMBER OF EMPLOYEES
Geoffrey Kott (CFO)
Kathy Nelson (COO)
Randi Schochet (CMO)
Salvatore Salzillo (CCO)
Michael Raff (CIO)
Elliot Rothschild (CAO)
DATE OF LAST FUNDING
The company raised $28 million from a venture round in November 2016. In December 2018, the company raised $100 million in a PE round.
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