Crypto-friendly bank EreborBank plans to conduct a new round of financing at a valuation of at least US$8 billion

According to Bloomberg, EreborBank, founded by PalmerLuckey, is negotiating with investors for a new round of financing with a target valuation of at least US$8 billion, nearly double the valuation of US$4.35 billion at the end of last year. According to people familiar with the matter, the bank's deposits have increased from US$1.1 billion to US$4.05 billion in the past three months, with nearly 400 new customers and expected to achieve profit within the year. Erebor focuses on serving companies in the fields of defense technology and cryptocurrency, and has obtained a national banking license from the Office of the Comptroller of the Currency. Previous investors include LuxCapital, 8VC, Andreessen Horowitz and FoundersFund. Erebor also signed a non-binding letter of intent with Venezuela Bancode Venezuela to provide agency banking services.