KUALA LUMPUR, Malaysia, April 23 (Bernama-PRNewswire) — Following the 2018 round of financing led by KKR with participation of Battery Ventures, Andreessen Horowitz, Ribbit Capital & Credit Ease; Shefa Capital has decided to partner with V Capital Investments Limited to lead the Series C PRE IPO USD100 million investment in Cross River Bank (“CRB”). Through this round of investment in CRB, V Capital also became CRB’s strategic partner in the South East Asia region. With the fintech offerings made available through this partnership, V Capital is also working toward the application for the Digital Bank Licence in Malaysia which will allow V Capital to offer its fintech offerings to a larger section of the public.
CRB, through its innovative and revolutionary fintech offerings, aims to disrupt the US and global commercial banking industry. In the USA, there are around 5,000 commercial banks as of 2019, generating approximately USD250 billion in annual revenue.
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