Erebor Bank targets $9.5 billion valuation
Erebor Bank is in talks to raise $1.5 billion in funding, which would value the company at $9.5 billion.
The bank’s total deposits have grown significantly, from $1.1 billion in March to $4.6 billion by July, driven by clients in crypto, AI, and defense.
The capital infusion is intended to support the bank’s expansion of lending operations, including a $200 million facility for Valar Atomics.
Existing investors, including 8VC and Haun Ventures, are expected to participate in the fundraising round, along with new investors such as Lux Capital and Andreessen Horowitz.