Cross River Bank Raises $100M in Round Led by KKR

Cross River Bank announced it raised approximately $100 million in a funding round led by global investment firm KKR. The round featured a $75 million equity investment from KKR, with additional participation from new investors CreditEase and LionTree Partners, as well as returning investors Battery Ventures, Andreessen Horowitz, and Ribbit Capital. Cross River operates as a Banking-as-a-Service provider, offering banking infrastructure and technology solutions specifically designed for financial technology companies.

Its platform supports marketplace lending and payment processing for prominent fintech clients including Affirm, Best Egg, Upstart, RocketLoans, Coinbase, and TransferWise. The investment positions Cross River to further scale its BaaS capabilities and deepen partnerships across the fintech ecosystem. The round highlights the critical role that bank partners play in enabling fintech products by providing the underlying regulatory and banking infrastructure.

Financial terms included the disclosed $75 million KKR equity component within the broader approximately $100 million raise.