Erebor

Digital national bank for crypto, AI, defense, and frontier-tech companies — the post-SVB alternative

Fintech 📍 Columbus, OH Founded 2025

Current Valuation

$4.3B

as of 2025-Q4

UNICORN

Erebor is a Columbus, Ohio-based digital national bank co-founded by Anduril CEO Palmer Luckey, 8VC's Joe Lonsdale, and Peter Thiel's Founders Fund to fill the post-SVB gap for crypto, AI, defense, and frontier-tech companies. The bank pairs traditional deposit and lending products with stablecoin and crypto-custody services for portfolio companies and venture funds that traditional banks won't serve. In July 2025 Erebor filed with the OCC for a national bank charter (advanced in late 2025 by new OCC guidance), and in December 2025 raised $350M at a $4.35B valuation — making it one of the highest-valued US neobanks at pre-launch. Co-CEOs Jacob Hirshman and Owen Rapaport run day-to-day operations.

Company Profile

CEO

Jacob Hirshman and Owen Rapaport (co-CEOs)

Founded

2025

Columbus, OH

Employees

~50

Total Raised

$350M

Growth

Pre-revenue; OCC bank-charter application advancing in late 2025; raised $350M at $4.35B (Dec 2025)

Last Round

Series A — $350M (Dec 2025) · Lead: Founders Fund and 8VC

IPO Status

private

Founders & Key People

Palmer LuckeyJoe LonsdalePeter Thiel (Founders Fund)Jacob HirshmanOwen Rapaport

Investors

Founders Fund · 8VC · Haun Ventures · Peter Thiel · Palmer Luckey · Joe Lonsdale

Products

Traditional deposit and lending accounts (full national bank charter pending)
Stablecoin and crypto custody
Virtual-currency on/off ramps
AI- and defense-focused commercial banking

Competitors

Mercury · Brex · JPMorgan Chase (JPM) · Anchorage Digital · Custodia Bank · Cross River Bank

FintechNeobankCrypto BankingDefense TechUnicornThiel-Backed