The Money Goes Toward Crypto and AI

Cross River, parent company of Cross River Bank, raised $50 million in common equity from existing investors including accounts advised by T. Rowe Price Investment Management. The company announced the funding on March 31, 2026, and plans to spend it on AI development, crypto infrastructure, and embedded finance products. Cross River started in 2008 and now provides banking-as-a-service for payments, lending, cards, and crypto to more than 100 fintech partners, including Coinbase, Stripe, and Affirm.

The raise comes as fintech investors have renewed interest in compliant crypto integration after Cross River had a strong 2025 with new products and partnerships. CEO Gilles Gade called the investment support for "embedded finance 2.0"—bundling crypto, lending, payments, and cards on one platform with AI tools for compliance and risk management. The company wants to scale its real-time banking core internationally so partners can offer financial products to businesses and consumers.

Cross River's infrastructure has facilitated more than $1 billion in loans as of late 2025, showing how it connects traditional banking with digital assets. The new capital funds international expansion, deeper partnerships, and new products. The company's clients include Upstart, Trustly, Plaid, DailyPay, Checkout, Bill.com, Best Egg, and X (formerly Twitter).

| Funding Fact | Details | |--------------|---------| | Project | Cross River (CRB Group, Inc., parent of Cross River Bank) | | Sector/Category | Fintech / Embedded Finance with Crypto Focus | | Funding Round | Common Equity Raise (Undisclosed Stage; Extension of Series D per Some Trackers) | | Amount Raised | $50 Million | | Valuation | Not Disclosed for This Round; Prior $3 Billion in 2022 | | Lead Investor | Accounts Advised by T. Rowe Price Investment Management (Deepening Existing Stake) | | Notable Participants | Certain Existing Cross River Investors (Details Undisclosed) | | Prior Funding Total | $898 Million Across 7 Rounds |

Building on a $3 Billion Valuation

This follows Cross River's $620 million Series D in March 2022, which valued the company at $3 billion. Andreessen Horowitz led that round, with Eldridge, Whale Rock Capital, and T. Rowe Price participating. Total funding across seven rounds reached $898 million, including a $100 million Series C in April 2020 from LionTree and Khazanah Nasional Berhad, and a $100 million Series B in December 2018 from Battery Ventures, Ribbit Capital, and Andreessen Horowitz.

Cross River grew from a 2008 startup to a major fintech enabler. Its deposit base went from $100 million in 2010 to more than $9 billion by 2021. The company focuses on compliant, scalable products and has landed partnerships in capital markets and lending, including recent credit facility expansions with Upgrade and MidOcean Partners.

• T. Rowe Price leading existing investors shows continued confidence in Cross River's multi-product approach as demand grows for AI-driven financial tools.
• The funding specifically targets crypto capabilities, matching the broader move toward regulated digital asset integration in banking.
• International plans include new partnerships and market entries, building on work with fintechs like Thredd for U.S. market access.
• No new investors were announced—just continued support from backers who have been with the company since its 2016 Series A.

This positions Cross River to take advantage of growing demand for embedded finance that bundles crypto and payments with strong compliance. The company has facilitated billions in loans and powers tech stacks for major platforms, connecting traditional finance with newer technologies. CRB Securities advised on the transaction as exclusive financial advisor, with Sullivan & Cromwell as legal counsel.

Bottom line: Existing backers keep betting on established, regulated players in crypto-enabled embedded finance.