Cross River Bank, one of the fastest growing banks in the US, grabbed the attention of many when Congress unleashed $800 billion in emergency loans to help small businesses during the pandemic – being one of the fastest banks to distribute the monies. From fintechs to  cryptocurrency exchanges, Cross River is the regulated bank behind many of these startups. Its rapid growth helped it secure a valuation of more than $3 billion in its most recent raise. Despite recent warning signs for the consumer lending platform – relating to low PPP forgiveness rates – Cross River intends to leverage its growth to acquire additional fintech capabilities to flesh-out its offering.

Bank Behind Fintech’s Rise Reels in Billions in Pandemic’s Wake – Bloomberg