Palmer Luckey is launching Erebor, a bank focused on serving crypto clients and startups, having raised $225 million at a $2 billion valuation. The company is backed by notable investors such as Peter Thiel's Founders Fund and Joe Lonsdale's 8VC. Erebor filed for a national bank charter and aims to capture a niche market previously held by Silicon Valley Bank. The leadership includes cofounders and executives with significant experience in traditional banking and finance, enhancing Erebor’s operational credibility.
Erebor is a startup bank raising $225 million at a $2 billion valuation, focusing on crypto clients and startups previously served by Silicon Valley Bank.
Leadership includes cofounders Palmer Luckey, Trevor Capozza, Jacob Hirshman, Aaron Pelz, and Owen Rapaport, with Hirshman and Rapaport as co-CEOs.
Executives like Joshua Rosenberg and Ricky Grant have backgrounds in traditional banking, which bolsters the credibility and expertise of Erebor’s leadership.
Erebor filed for a national bank charter in June and is backed by Peter Thiel's Founders Fund and Joe Lonsdale's 8VC.
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