Cross River Bank’s recent $100 million funding round could be an encouragement to lending-focused fintechs, which are currently being warned about a potential economic downturn.

Indeed, Fort Lee, N.J.-based Cross River Bank is not fazed by that possibility, and nor are its investors, which in turn could be a positive harbinger for alternatives lenders, who could look at this investor confidence in Cross River as representing sentiments towards the lending industry at large. In fact, many industry reports show that thanks to lower interest rates, alternative credit scoring methods, better user experience, and more personalization, customers — both retail and SMBs — are showing an increased preference to go with a fintech lender instead of a bank.

For Cross River Bank, specifically, whose client roster of fintech lenders include POS lender Affirm, personal loan providers Best Egg and RocketLoans, among others, this funding is particularly good news. As a result of the new capital, these new lenders can expect an expansion of Cross River technology offerings. This includes Cross River’s continued work to update its technology stack and offer a more robust compliance infrastructure, Bank Innovation has learned.

Additionally, Bank Innovation has learned that a portion of the capital will put towards further building and enhancing a complete banking platform where fintech companies can leverage that technology.

On Friday, Cross River Bank announced the funding round led by private equity firm KKR & Co. The New York.-based private equity firm contributed $75 million of the total amount.

Other investors include existing ones Ribbit Capital (which also invested in South Korean fintech Toss this week and made it a unicorn), Battery Ventures and Andreessen Horowitz. The new investors include CreditEase and Lion Tree Partners.

Gilles Gade, founder & CEO of Cross River, said in a press release that the new funds will enable the expansion of the bank’s technology and product development teams.

Gade said in a statement released by the company:

This is a very strong signal that we continue to execute on our plan and are poised to take Cross River through its next phase of successful development here in the US and across the globe.

Founded in 2008, Cross River Bank provides provide Banking-as-a-Service solutions including payment operations, compliance as well as marketplace lending platform solutions. Besides alternative lenders, other Cross River customers include payments network Visa, cryptocurrency exchange Coinbase and payment transfer service TransferWise, among others.

Prior to last week’s funding, Cross River had raised $28 million in 2016 from Battery Ventures, Andreessen Horowitz and Ribbit Capital.