Crypto neobank Erebor seeks to raise $350M

Crypto neobank Erebor is planning to raise $350 million, Bloomberg reported. A funding round is currently underway, led by Lux Capital. According to people familiar with the matter, the company has been valued at $4.35 billion. Erebor is backed by major tech figures, including PayPal co-founder Peter Thiel and prominent U.S. virtual reality entrepreneur Palmer Luckey.