Robinhood Ventures Fund I has purchased $30 million of preferred stock in Erebor Bank, a nationally chartered US lender, according to an Oct. 21 announcement.
Sarah Pinto, president of Robinhood Ventures Fund I, said the banking industry was ready for innovation and that Erebor could become an important financial infrastructure provider for America’s innovation economy.
Founded in 2025, Erebor counts Palmer Luckey, Owen Rapaport, Jacob Hirshman, Aaron Pelz and Trevor Capozza among its founders. Its backers include Valor Equity Partners, Lux Capital and 8VC, among others.
Leave a Reply