Andreessen-Backed Fintech Lead Bank Hits $1.47 Billion Valuation

Lead Bank, the 97-year old Missouri lender rebuilt to serve fintech and crypto firms, has raised $70 million at a $1.47 billion valuation — almost double last year’s mark — as it pushes to expand its balance sheet and client base.

Andreessen Horowitz and Khosla Ventures, among Silicon Valley’s best-known investors, joined the round alongside other existing investors including Ribbit Capital, Coatue and Zeev Ventures, the bank said. They were joined by newcomers Iconiq Capital and Greycroft.