Cross River

bankingtechnew core banking solutions

FOUNDING YEAR: 2008
LOCATION: United States
Last Update: 01/05/2020

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About

At Cross River, were rethinking banking through API-driven products. Our legacy products combined with our cutting-edge technology is helping to empower millions of consumers. We partner with a number of leading marketplace lending platforms including Affirm and RocketLoans to help people get access to credit. Our game changing payments products are the rails that Coinbase and TransferWise (to name just a few!) run on.Cross River strives to set the regulatory and compliance gold standard which is at the heart of everything we do. We are innovators who put our ideas and expertise to work on behalf of our clients so they can lead the FinTech industry forward.At Cross River, our people are helping to write the future of banking. Our team work and creative collaboration, powered by our inclusive and friendly, family environment are what sets us apart.www.crossriverbank.com#BankingUntangledFollow us on: twitter.com/crossriverbank2018 Cross River Bank Member FDIC, Equal Housing Lender

MEDICI Analysis

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.

Focus

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.

EXISTING PARTNERSHIPS

Affirm

Best Egg

Coinable

Finix Payments

FreedomPlus

Rocket Loans

Stripe

Visa

etc.

Traction

VALUATION / MARKET CAP:

$1 B in 2018

VALUATION COMMENT:

After the latest funding round, the company's valuation is at $1 billion. (Dec. 2018)

REVENUE

$10M+ in 2018

REVENUE COMMENT:

The company generated an annual revenue of $130 million in 2018.

TRANSACTIONS COMMENT:

The company has originated $20 billion in loans and is growing at a 30% rate.

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