Erebor, a banking start-up co-founded by Anduril CEO Palmer Luckey, has raised $350 million at a valuation of about $4.35 billion after receiving approval from the Federal Deposit Insurance Corporation (FDIC) to establish a national bank. The round was led by Lux Capital, with additional investors including Peter Thiel's Founders Fund, 8VC and Haun Ventures.
Founded in 2025, Erebor plans to offer traditional banking and crypto-related products and services to companies in the US innovation economy such as virtual currencies, artificial intelligence and manufacturing. The bank is expected to go live next year.
Banking startup Erebor raises $350 million after FDIC approval
2025-12-22 22:17:32
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