Erebor Bank Nears $1.5B Raise at $8B Pre-Money Valuation

Erebor Bank nears $1.5B raise at $8B pre-money valuation

Erebor Bank is reportedly nearing a $1.5B raise at an $8B pre-money valuation after deposits reached $4.6B by July, months after U.S. approval.

Crypto-friendly bank Erebor in talks for $1.5 billion fundraise at $9.5 billion valuation: FT

Total deposits grew from $1.1 billion in March to $4.6 billion by July, driven by clients in crypto, AI, and defense.

Palmer Luckey’s startup bank Erebor in talks to raise $1.5 billion at $8 billion valuation - Tech Startups

Palmer Luckey-backed startup bank Erebor is in advanced talks to raise roughly $1.5 billion at an $8 billion pre-money valuation, a massive jump for a young lender created in the aftermath of Silicon Valley Bank’s collapse. The valuation is eye-catching. […] The post Palmer Luckey’s startup bank Erebor in talks to raise $1.5 billion at $8 billion valuation first appeared on Tech Startups.

Financial Times: Crypto-Friendly Bank Erebor Eyes $1.5B Raise at $9.5B Valuation

Erebor Bank is in advanced talks to raise about $1.5 billion at a $9.5 billion valuation, the Financial Times reported Tuesday, citing people familiar with the discussions. The crypto-friendly lender is reportedly attracting commitments from major technology-focused investors. The potential financing comes after Erebor’s deposits surged from $1.1 billion in March to $4.6 billion by July, reflecting demand from clients across crypto, artificial i…

Palmer Luckey and Joe Lonsdale’s Erebor seeks $1.5B at $8B valuation: Report

Erebor is in talks to raise $1.5 billion at an $8 billion pre-money valuation, nearly double its December mark. Deposits hit $4.6 billion by the end of July, up from $1.1 billion in March, with ARR past $100 million. Lux Capital, Andreessen Horowitz and SV Angel are expected to join existing backers 8VC and Haun Ventures. Erebor, the bank co-founded by Palmer Luckey and Joe Lonsdale, is in advanced talks to raise around $1.5 billion at an $8 bil…

Crypto Banking Expansion Attracts $1.5B Investor Interest

Erebor is discussing a $1.5 billion funding round at an $8 billion pre-money valuation. The transaction would value the crypto-friendly bank at roughly $9.5 billion after the raise. Deposits have already reached $4.6 billion since Erebor opened in February. The bank is targeting crypto, AI, defense and other capital-intensive technology companies. The talks come only six months after Erebor began operating as a federally chartered U.S. bank, mak…