Cross River Bank, Inc. is a U.S. state-chartered commercial banking corporation, headquartered in Fort Lee, New Jersey, U.S. The bank which is an FDIC member and an equal housing lender operates under a New Jersey charter.
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History
Cross River Bank was founded in 2008, by French-born entrepreneur Gilles Gade.
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Operations
The bank focuses on traditional community banking activities, taking deposits and making loans. The bank originates loans for marketplace lenders and processes payments. As of November 2016, the bank has assets of approximately $543M, and had more than 110 employees at its branch office and corporate headquarters in New Jersey.
On November 1, 2016 Cross River Bank announced it had completed a $28 million growth-equity investment led by investment firm Battery Ventures, with participation from Andreessen Horowitz and Ribbit Capital.
Services
The bank offers direct lending and marketplace lending processed through different peer-to-peer lending portals,
In October 2015, Cross River Bank announced a $100 million securitization with Marlette funding.
In 2014, Cross River Bank collaborated with Ripple to offer real-time international payments between the U.S. and Western Europe.
References
External links
- Official website
Source of the article : Wikipedia
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