Digital national bank for crypto, AI, defense, and frontier-tech companies — the post-SVB alternative
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. On August 10, 2026, Axios reported that Erebor was nearing a $1.5B financing at an $8B pre-money valuation; because the round had not closed, the page retains the December 2025 priced-round mark. Co-CEOs Jacob Hirshman and Owen Rapaport run day-to-day operations.
Fintech📍 Columbus, OHFounded 2025
Current Valuation
$4.3B
as of 2025-Q4
UNICORN
QL Price
$4.3B
0% vs last round
QuantLogix's current estimate for Erebor, published 2026-10-07 — in line with the last disclosed round of $4.3B (2025-Q4).
Confidence
low
Basis
round anchored
What backs this price
Last disclosed round
$4.3B
2025-Q4
weight 0.59
How this price has held up
No round has priced for Erebor since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-10-07 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Erebor, 2026-10-07 (c3f69080ebf6ddee).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookprivate
Is Erebor going public?
No. Erebor is private and has not filed to go public. There is no S-1 on file.
What is Erebor's valuation in 2026?
Erebor is valued at $4.3B as of 2025-Q4, set by its Series A ($350M, Dec 2025). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Erebor filed an S-1?
No public S-1 is on file for Erebor.
Who are Erebor's investors?
Erebor's investors include Founders Fund, 8VC, Haun Ventures, Peter Thiel, Palmer Luckey, Joe Lonsdale.
How much has Erebor raised?
Erebor has raised $350M in total, most recently a Series A of $350M in Dec 2025.
Is Erebor publicly traded — can you buy Erebor stock?
No. Erebor is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Erebor on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Jacob Hirshman and Owen Rapaport (co-CEOs)
Founded
2025
HQ
Columbus, OH
Employees
~50
Total Raised
$350M
Growth
Raised $350M at $4.35B (Dec 2025); reportedly nearing a separate $1.5B financing at an $8B pre-money valuation (Aug 2026, unclosed)
Last Round
Series A — $350M (Dec 2025) · Lead: Founders Fund and 8VC
Aug 2026 · Axios Pro Deals / Financial Times · funding
Vertical Intelligence — Defense / Aerospace
No name-verified federal prime awards for Erebor in the last 36 months on USASpending.gov — revenue may be classified, flow through subcontracts, or be non-US. Absence of a registry match is reported as-is.
Checked usaspending.gov as of 2026-10-04. Re-checked weekly.
Talent Signal
No public careers page or job board could be found for Erebor as of 2026-09-15. That itself is a datapoint: no open external hiring surface.
Checked the company site and major hosted job boards. Re-checked monthly.
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2025-Q4. Refreshed quarterly.