The Most Innovative Fintech Companies In 2019
February 4, 2019
Cross River, Fort Lee, NJ
Born from a small New Jersey community bank, Cross River has used its FDIC-insured status to become the banker to the world’s most valuable fintechs. It creates the notes behind the loans firms like Quicken’s RocketLoans, Affirm and Best Egg dole out. Also handles payments and deposits for the likes of Stripe, TransferWise, Visa and Coinbase, among others.
Funding: $128 million from KKR, Andreessen Horowitz, CreditEase, LionTree Partners and others. Latest valuation: About $1 billion
Bona fides: $130 million in annual revenue, originated $20 billion in loans and growing 30%-plus
Founder & CEO: Gilles Gade, 52. Prior to founding Cross River in 2008, the French-born Gade was a technology investment banker and analyst and CFO of a mortgage company.