Cross River Bank gets unconventional validation with a $28M VC round

In a rare move, Battery Ventures, Andreessen Horowitz and Ribbit Capital, investors in a number of Silicon Valley’s fintech startups, have backed the bank enabling many of their investments to lurch forward. Cross River Bank, the obscure financial institution that seemingly everyone in fintech has heard of but doesn’t really know, originated more than $2.4 billion in loans for companies like Affirm, Lending Club, and Upstart in 2015 alone.