New bank targeting 'innovation economy' closes in on $1.5bn funding round
Erebor, the new bank backed by tech billionaires that plans to fill the gap left by Silicon Valley Bank's collapse, is on the verge of raising $1.5 billion in funding, according to the Financial Times.
Erebor, the new bank backed by tech billionaires that plans to fill the gap left by Silicon Valley Bank's collapse, is on the verge of raising $1.5 billion in funding, according to the Financial Times.
BELLINGS Intelligence Score: 33
Why it matters
A new bank targeting the innovation economy and raising $1.5 billion is notable market activity with potential implications for credit availability in a specialized sector, but it is not yet a systemic or regulatory event.
Sources
Finextra
New bank targeting 'innovation economy' closes in on $1.5bn funding round
Erebor, the new bank backed by tech billionaires that plans to fill the gap left by Silicon Valley Bank's collapse, is on the verge of raising $1.5 billion in funding, according to the Financial Times.