KKR leads $100m investment in Cross River Bank

Private equity firm KKR has led a $100m investment in Cross River Bank, a community bank that powers some of the most well known financial technology startups in the United States. Chinese FinTech conglomerate CreditEase, LionTree Partners and existing investors Andreessen Horowitz, Battery Ventures and Ribbit Capital, also joined the equity round. Cross River will use the cash to grow its team and continue to invest in compliance infrastructure, the bank’s founder and Chief Executive Gilles Gade said in an interview.