TechFlow, Dec 23 — According to TheBlock, Erebor, a banking startup co-founded by Anduril CEO Palmer Luckey, has raised $350 million in funding at a $4.35 billion valuation. The round was led by Lux Capital, with participation from existing investors including Peter Thiel's Founders Fund, 8VC, and Haun Ventures.
Last week, the U.S. Federal Deposit Insurance Corporation (FDIC) approved Erebor’s deposit insurance application, establishing its status as a newly chartered national bank. According to its bank application documents, Erebor plans to offer both traditional banking and crypto-related products and services.
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