Cross River Bank, the Fort Lee-based fintech and financial services company, has established a venture capital arm, it said on Tuesday.
Cross River Digital Ventures will seek to invest in businesses in industries such as lending, payments, investing, and fintech.
“Cross River is already powering some of the largest fintech companies, and this new venture will help us identify and make additional strategic investments,” said Gilles Gade, Founder, President and CEO of Cross River, in a statement. “Like at Cross River, we’re looking for special companies that are trying to change the world through innovation. “
Cross River Digital Ventures has already invested in companies such as:
- Innvoative Assessments, a fintech startup focused on psychometrics;
- Lev, a technology-focused commercial real estate finance consultancy;
- Finix Payments, a payment infrastructure provider.
“By providing strategic support to start-ups, we can leverage the momentum of Cross River to fuel and strengthen the next wave of fintech innovation,” said Hillel Olivestone, Head of Corporate Development at Cross River, in a press release. “These are promising startups that align with Cross River’s mission and values, and we look forward to working with them to develop and expand the fintech ecosystem.”