Erebor was founded by Palmer Luckey and launched as a national bank designed to fill the market gap left by the collapse of Silicon Valley Bank in 2023. The bank plans to offer products tailored to technology firms, including lines of credit backed by crypto or private securities and loans for AI chips. Erebor received conditional regulatory approval in October 2025 and was granted its national charter in February 2026; its deposits are insured by the FDIC. Investors disclosed in the announcement include Founders Fund, Andreessen Horowitz, Lux Capital, and 8VC. The bank is explicitly focused on serving startups, technology companies, and related individuals and investors.

Total raised

$350M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2026