After the collapse of Silicon Valley Bank (SVB), a group of American tech billionaires decided to fill the gap in the market – by founding a new bank named Erebor. Behind this ambitious project are names like Palmer Luckey (Anduril), Joe Lonsdale (8VC), and Peter Thiel, founder of Founders Fund and one of the most influential investors in Silicon Valley.

The new bank, symbolically named after the “lonely mountain” from Tolkien’s The Lord of the Rings, will be focused on startups in the fields of innovation, cryptocurrencies, artificial intelligence, and new technologies – clients that traditional banks often avoid due to risk.

Erebor will apply for a national banking license in the U.S., and it is planned to offer both classic and virtual-currency products for businesses and individuals. The focus will be on the so-called “innovation economy,” but also on international clients seeking access to the American banking system.

The bank will have two CEOs – Jacob Hirshman and Avner Rappaport, who already have experience from companies such as Circle and Palantir.

The message is clear: Erebor Bank wants to be a financial stronghold for the new generation of entrepreneurs – those who break the rules, and now are getting their fortress.

/ / /

"Standard Prva" LLC Bijeljina is a company registered in Bijeljina at the District Commercial Court in Bijeljina. Company’s activities are accountancy, repurchases of receivables, angel investing and other related services. Distressed debt is a part of the Group within which the company repurchases the receivables, which function and are not returned regularly.

Lawyer’s Office Stevanović is the leading lawyer’s office in the region with the seat in Bijeljina. The LO abbreviation represents Lawyer’s Office of Vesna Stevanović and Lawyer’s Office of Miloš Stevanović.

Contact for media press@advokati-stevanovic.com or via telephone 00 387 55 230 000 or 00387 55 22 4444.