Crypto and defence-focused bank Erebor is discussing raising new funds at a valuation of at least $8 billion, Bloomberg News reported on July 2, citing sources familiar with the matter.
If the deal is completed, Erebor’s valuation would almost double from $4.35 billion recognised when it raised $350 million in December last year.
The talks are at an early stage and the exact valuation is still being negotiated, the sources said.
Erebor’s deposits nearly quadrupled to $4.05 billion from $1.1 billion reported to regulators in March. It also added nearly 400 new customers over the past three months. Erebor expects to turn profitable by year-end.
Erebor founder Palmer Luckey (팔머 럭키) said none of the deposit growth this quarter came from funds from other companies he founded, and that hundreds of new customers independently chose Erebor.
Chi-gyu Hwang
delight@d-today.co.kr