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Cross River history
Cross River company history timeline
In 2008, he decided to make his move, pooling some $700,000 in savings with $9 million from friends and others to invest in Cross River, a community bank that had received a bank charter but had no assets.
Gade started Cross River, which has its headquarters in Fort Lee, N.J., in 2008 after more than a decade of working on Wall Street.
Since 2010, Silicon Valley venture firms and others have invested some $175 billion to disrupt the financial system, according to Accenture.
In 2010, Cross River entered into its first tech partnership.
Cross River and several other specialty banks like Utah’s Celtic Bank and WebBank were eager to fill the void, through a growing field of fintech frontmen. It was 2010, and the financial crisis had created widespread distrust of traditional bankers, consumers had little equity to tap in their homes and banks largely stopped extending credit.
LendingClub went public in 2014 with a valuation of $5.6 billion.
Everything was going smoothly for the sector until about 2015, after a handful of big outfits like LendingClub went public.
The 70,000 square-foot building in Fort Lee, acquired with the assistance of the 2019 Grow NJ grant, was anticipated to accommodate the firm’s expanding workforce, which by this point had increased to some 500 employees.
As of 2020, Cross River counts more than a dozen lending partners, including Affirm, Rocketloans and Upstart.
Cross River officially opened its new corporate headquarters in April 2021.
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Cross River competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Lendio | 2011 | $22.0M | 452 | 7 |
| Betterment | 2008 | $50.0M | 293 | 35 |
| Legacy Group LLC | 2011 | $10.7M | 2 | 3 |
| HighTower Advisors | 2008 | - | 751 | 38 |
| Berkadia Commercial Mortgage | 2009 | $360.0M | 1,035 | 10 |
| Tala | 2011 | $5.6M | 53 | 7 |
Cross River history FAQs
Zippia gives an in-depth look into the details of Cross River, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Cross River. The employee data is based on information from people who have self-reported their past or current employments at Cross River. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Cross River. The data presented on this page does not represent the view of Cross River and its employees or that of Zippia.
Cross River may also be known as or be related to Cross River and Cross River Bank.