Erebor, a new digital-only bank, has emerged with backing from Peter Thiel and other tech billionaires following the collapse of Silicon Valley Bank in March 2023. The bank aims to provide traditional banking services and support for cryptocurrency transactions, targeting underbanked businesses and non-US firms seeking access to the US banking system.

India's corporate banking sector is significantly lagging behind the consumer fintech market, prompting the launch of Transbnk, which has successfully raised $25 million to address this gap. The startup aims to enhance corporate banking services and improve access for businesses in India.