The Austin-based fintech brings payment solutions to clients in sectors including money service businesses, e-commerce businesses, and retailers.

“Cross River has always stood apart from the pack by leading in innovation,” the fintech's founder, Eric Griego, said in a statement. “We are excited to join a cutting-edge technology stack and together expand the ability to help business owners at scale.”

Though the organizations said that the partnership is the first of its kind between a bank and a tech accelerator - offering resources for startups and emerging investors, community events, thought leadership and more - the pair have been community partners for years.

The San Francisco-based company is the first fintech firm to be listed in the top 50 U.S. Visa/Mastercard Credit Card Issuers in the Nilson Report, with a growth rate of 755% year over year.

The funding, provided through the institution's new health care lending platform, will be used to refinance Hudson Regional Hospital, a 204-bed acute care facility in Secaucus.