Cross River Proclaims Partnership With SeedFi For Monetary Merchandise & $50 Million Debt Financing

Cross River, a financial institution that delivers superior monetary and compliance merchandise/providers to the fintech trade, introduced on Wednesday it has joined forces with monetary well being startup SeedFi. Cross River reported it is going to be powering SeedFi’s new Credit score Builder and Borrow & Develop plans by means of its banking and tech platform. The corporate will even present a $50 million debt financing by means of its Strategic Direct Lending Group.

“Cross River and SeedFi are offering clear and reasonably priced monetary merchandise that assist people in underserved communities construct credit score, enhance financial savings and entry cash once they want it, enabling them to chart a greater future.”

Cross River additional revealed that SeedFi’s Credit score Builder and Borrow & Develop Plans are notably designed to allow higher entry to credit score whereas additionally constructing financial savings. Whereas sharing particulars concerning the partnership, Rahul Jha, Head of Strategic Direct Lending at Cross River, said:

“Our lending group goals to supply capital to revolutionary fintech corporations who share Cross River’s ambition of maximizing monetary inclusion, and SeedFi is a wonderful instance of precisely that type of firm. We’re proud to assist SeedFi’s progress with this credit score facility, and we’re excited to play a task in bringing accountable monetary merchandise to customers in want.”

Jim McGinley, Co-Founder and CEO of SeedFi, added:

“Cross River totally helps and believes in SeedFi’s mission to assist People break the cycle of debt and notice their monetary potential. The partnership will enable us to extra effectively ship an distinctive suite of economic merchandise to our prospects.”

Based in 2008, Cross River describes itself as a fast-growing monetary providers group that merges the established experience and conventional providers of a financial institution with the forward-thinking choices of a know-how firm.