Achieve and Cross River partner to diversify and expand investor access to personal loan collateral

Partnership debuts with the sale of pass-through certificates backed by $34.5 million in Achieve Personal Loans

August 01, 2023

SAN MATEO, Calif. and FORT LEE, N.J., August 1, 2023 Achieve, the leader in digital personal finance, and Cross River Bank (“Cross River”) completed the issuance of the first pass-through certificates backed by Achieve Personal Loans, for which CRB Securities, LLC acted as placement and settlement agent.

The Achieve Personal Loan Master Pass-Through Trust, Series 2023-1 (APLPT 2023-1) is backed by approximately 1,500 Achieve Personal Loans with an aggregate principal balance of approximately $34.5 million.

“The new Achieve Personal Loans pass-through certificates allowed investors to acquire an interest in the same collateral behind our award-winning securitization platform, but with whole-loan economics,” said Achieve Co-Founder and Co-CEO Andrew Housser. “Cross River’s partnership will allow us to diversify our investor base and funding sources to further strengthen the Achieve Personal Loans platform, reflecting Achieve’s commitment to innovative strategies that help consumers get on, and stay on, the path to a brighter financial future.”

Achieve Personal Loans are unsecured loans that help consumers consolidate their high-interest, unsecured debts. The loans backing the pass-through certificates were originated by Cross River, one of two bank partners that originate loans on the Achieve Personal Loans platform. The loans have an original principal balance between $5,000 and $50,000 and terms between 24 and 60 months.

“We always strive to provide our clients with unique capital solutions and now that we have the broker-dealer capabilities, we were able to further expand those offerings,” said Ryan Callahan, Co-Head of Capital Markets at Cross River and Managing Director at CRB Securities, LLC. “We’re excited that the Achieve team was able to enhance their funding strategy by offering investors access to Achieve Personal Loans in certificated form.”

For the pass-through certificates, Cross River and CRB Securities, LLC, arranged an end-to-end closed-loop funding solution – from loan origination all the way to securitization structuring. CRB Securities, LLC is a wholly owned subsidiary of CRB Group Inc. and an affiliate of Cross River.

“This partnership is a testament to the full-service offerings Cross River and CRB Securities, LLC provide our partners,” said Gilles Gade, Founder and CEO of CRB Group Inc. “Our complete funding solution will further enable Achieve to expand access to credit where it is needed.”

This press release is for informational purposes only and is neither an offer to sell nor the solicitation of an offer to buy any certificates or any other securities issued pursuant to the transactions discussed above and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. The certificates have not been and will not be registered under the Securities Act of 1933, as amended (“Securities Act”), or the securities laws of any jurisdiction. Securities are offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act.

About Achieve

Achieve is the leader in digital personal finance. Our solutions help everyday people get on, and stay on, the path to a better financial future, with innovative technology and personalized support. By leveraging proprietary data and analytics, our solutions are tailored for each step of a consumer’s financial journey and include personal loans, home equity loans and help with debt. In addition, Achieve also provides financial tips and education, including a free specialized mobile app, MoLO (Money Left Over). Headquartered in San Mateo, California, Achieve has nearly 3,000 dedicated teammates across the country with hubs in California, Arizona, Texas and Florida. Achieve is frequently recognized as a Best Place to Work.

Achieve and its affiliates are subsidiaries of Freedom Financial Network Funding, LLC, including, LLC d/b/a (NMLS ID #138464) Equal Housing Lender; Freedom Financial Asset Management, LLC d/b/a Achieve Personal Loans (NMLS ID #227977); Freedom Resolution (NMLS ID #1248929); and Lendage, LLC d/b/a Achieve Loans (NMLS ID #1810501), Equal Housing Lender.

About Cross River

Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Find out more at

About CRB Securities

CRB Securities, LLC (“CRBS”) is a wholly owned subsidiary of CRB Group Inc, a bank holdingcompany, and the parent company ofCross River Bank (“CRB”), established in 2008. CRBS is an SEC-registered broker-dealer and FINRA member. CRBS was created to solve the financing needs of clients that are looking to access the capital markets through the issuance of securities. Through CRBS, Cross River clients can diversify their funding strategy in a flexible and operationally efficient manner. For more information on CRBS, please visit



Erica Bigley

Vice President, Corporate Communications

[email protected]



Austin Kilgore

Director, Corporate Communications

[email protected]



Ryan Chernis

Vice President, Institutional Sales

[email protected]



Cross River

Mackenzie DeLuca

PR Manager

201-808-7000 ext. 778

[email protected]


Ryan Callahan

Co-Head, Capital Markets & Managing Director, CRB Securities

201-808-7000 ext. 492

[email protected]

Press Topics