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 Ereborโs deposits surged from $1.1 billion in March to $4.6 billion by July, reflecting demand from clients across crypto, artificial intelligence, defense and manufacturing. The bank also plans to offer lending, stablecoin products, treasury management and payment services, positioning traditional banking infrastructure closer to digital-asset businesses.
Erebor received final U.S. approval to operate in February and is expanding its lending operations, including a $200 million facility for nuclear startup Valar Atomics. The proposed funding would follow an earlier round valuing the bank at $4.35 billion and could significantly increase its private-market valuation.
Source: https://www.ft.com/content/eae5a1cc-5d15-48c9-9d24-2b7094fda5ba
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