Cross River raises $50M

Cross River said on March 31 that it raised $50 million in new equity from existing investors to expand its artificial intelligence, crypto and embedded-finance businesses. (crossriver.com) The funding was announced by CRB Group, Inc., the parent of Cross River Bank, and the company said accounts advised by T. Rowe Price Investment Management joined the round. (crossriver.com) Cross River said the money will back new product launches, deeper partnerships and a wider international footprint. Gilles Gade, the company’s chairman, founder and chief executive, said the strategy centers on combining crypto, lending, payments and cards with an artificial-intelligence layer. (crossriver.com) Embedded finance is the business of putting banking tools inside nonbank apps, so a software platform or marketplace can offer payments, cards or loans without building a bank from scratch. Cross River says its real-time banking core lets partners plug into those services at scale. (crossriver.com) The raise lands after a busy stretch for the company. Cross River said 2025 brought faster growth across product innovation, payments, capital markets and lending. (crossriver.com) The company is not a small startup trying to enter finance for the first time. Cross River said it was founded in 2008 and now powers lending, payments, card and crypto products for more than 100 technology partners, including Stripe, Plaid, Coinbase, Affirm, Upstart and Bill.com. (crossriver.com) Regulatory filings show Cross River’s parent is already in the public markets orbit: Cross Country Healthcare’s investor site lists a February 25, 2026 annual report and other 2026 filings under the ticker “CROSS,” though that filing page is separate from the bank’s funding announcement. (cross.q4ir.com) The new $50 million round is smaller than the company’s 2022 fundraise, which FinTech Futures reported at $620 million. This time, Cross River is using a targeted capital infusion to push further into the parts of finance where banks, fintechs and crypto firms increasingly overlap. (fintechfutures.com) The immediate next step is execution. Cross River said the capital is meant to turn that platform into more products in artificial intelligence, crypto and embedded finance, and to take those products into more markets. (crossriver.com)