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Cross River puts $50m behind GoodLeap’s home equity card

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Cross River puts $50m behind GoodLeap’s home equity card

Cross River Bank, an embedded finance technology provider, has committed a $50m revolving credit facility to GoodLeap, a sustainable home improvement finance platform, to support the launch of a new card linked to homeowners’ equity.

The facility was arranged through Cross River’s Principal Finance Group and will fund the GoodLeap Home Visa Signature Card. Cross River will also issue the card, combining its lending and card capabilities as part of the arrangement.

The GoodLeap Home Card is built around a home equity line of credit (HELOC), allowing homeowners to access property equity for renovation projects and everyday purchases. GoodLeap says the card offers interest rates below those typically associated with credit cards, while customers can receive up to 6% cash back on eligible home improvement projects initiated through the GoodLeap Home app.

The deal gives GoodLeap access to several parts of Cross River’s financial infrastructure through one relationship. Alongside providing the credit facility, Cross River will handle card issuance and payments infrastructure for the product.

The structure highlights Cross River’s role across both the financing and technology layers supporting the card. Its Principal Finance Group provides the lending capacity, while the bank’s payments and card infrastructure supports the product itself.

GoodLeap focuses on financing and software for sustainable home upgrades, including solar installations, batteries, heat pumps, energy-efficient HVAC systems, roofing and windows. 7 million homeowners, while the company says its platform has facilitated more than $37bn in financing for sustainable solutions since 2018.



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