The union will open the first U.S.-based consumer personal loans for Revolut customers, with additional credit offerings planned for the coming months.

The round was led by Eldridge and Andreessen Horowitz, with participation from funds and accounts advised by T. Rowe Price Investment Management Inc., Whale Rock and Hanaco Ventures.

The initiative from the Statewide Hispanic Chamber of Commerce of New Jersey aims to promote access to capital, opportunities and new markets to Hispanic business owners.

In addition to offering new capital, education opportunities and business resources to underserved businesses and consumers in the Garden State, the pairing will help fund efforts for the African American Chamber of Commerce of New Jersey to become a Community Development Financial Institution.

“PayTile’s mission is to make digital payments as private as cash and as safe as a card,” the company's CEO Anu Vora said. “While traditional P2P [peer-to-peer] apps exist to pay the people you already know, PayTile exists to safely pay people you don’t know.”

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.