CRB Group, the parent company of Cross River Bank, a US-based technology infrastructure provider that offers Embedded Financial solutions, has announced a USD 50 million equity capital raise.

This investment is sourced from existing Cross River investors and accounts managed by T. Rowe Price Investment Management.

Cross River powers lending, payments, card, and crypto solutions for over 100 technology partners such as Stripe, Coinbase, Plaid, Affirm, Checkout.com, Upstart, Trustly, DailyPay, and X. Its proprietary real-time banking core delivers the infrastructure through which partners can deliver embedded financial services across a variety of sectors, including payments, lending, crypto, and capital markets for businesses and consumers globally.

Capital Utilization and Strategic Planning

The capital will be used to scale Cross River’s crypto capabilities, accelerate its AI strategy, and support global expansion. Additionally, the company plans to deepen strategic partnerships and bring new products to market.

According to the company’s vision, Embedded Finance 2.0 involves bundling services such as crypto, lending, payments, and cards on a single platform with an AI layer, along with robust compliance infrastructure. This initiative is meant to position Cross River as a bank-infrastructure provider for fintech and technology companies that require a regulated banking foundation for their embedded financial products.

Cross River was founded in 2008 and has received backing from several global investors. CRB Securities served as the exclusive strategic financial adviser on this transaction, with Sullivan and Cromwell acting as legal counsel.

In a statement, Gilles Gade, Founder, Chairman, and CEO of Cross River, expressed that T. Rowe Price’s increased investment underscores support for the company’s Embedded Finance 2.0 strategy, which integrates crypto, lending, payments, cards, an AI layer, and stringent compliance infrastructure.