Palmer Luckey is making another big bet: this time, not in virtual reality or military defense, but digital finance. The Anduril CEO and Oculus founder has launched Erebor, a digital bank that already holds a valuation of $2 billion as it raises at least $225 million in funding, Business Insider reports.
Venture firms Founders Fund and 8VC, led by Peter Thiel and Joe Lonsdale, respectively, are backing the project, according to sources with knowledge of the deal who spoke with Business Insider. The fundraising remains in progress, and details could still change, but the size of the round and the players involved have already drawn attention across Silicon Valley.
