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Erebor Bank nears $1.5 billion raise at $9.5 billion valuation

The funding would support a required 12% leverage ratio and back an expansion of lending, including a $200 million credit facility for Valar Atomics.

Reported · Written up by our desk · Market Structure

Erebor Bank is in advanced talks for a $1.5 billion financing round that would value the crypto-friendly bank at about $9.5 billion, according to the Financial Times, as it prepares to expand its lending operations.

The report says Erebor received final U.S. approval to operate in February and must maintain a mandatory 12% leverage ratio during its first three years, making the capital infusion important as its balance sheet grows.

Deposits climbed from $1.1 billion at the end of March to $4.6 billion by the end of July, with growth tied to clients in crypto, AI and defense.

Erebor targets companies in crypto, artificial intelligence, defense and manufacturing, and its lending plans include a $200 million credit facility for nuclear start-up Valar Atomics, where Erebor is set to lead as administrative agent.

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