Copy link
Increase text size
Decrease text size
Link copied

Blockchain startup Figure Technologies on track to raise $103M

Tue, 03 Dec 2019, 07:44 am UTC

Figure Technologies, the company behind blockchain-based supply chain platform Provenance, has raised over $58 million as part of its $103 million Series C funding round, TechCrunch reported.

Founded in 2018, Figure is a fintech company leveraging blockchain, AI, and analytics to deliver innovative home equity release solutions and other products. The startup had raised $120 million by February 2019 in equity funding from RPM Ventures, Ribbit Capital, DCG, Morgan Creek, and others, which was followed by a $1 billion debt financing round in May from Jefferies and WSFS Institutional Services.

The company has also raised $20 million in an initial coin offering (ICO) drive in July, according to the details on Crunchbase.

According to a filing with the U.S. Securities and Exchange Commission (SEC), Figure appears to be on track to raise $103 million in its latest equity financing round, having already secured $58 million of that amount. The filing also shows that a total of 36 investors have invested in the offering so far.

Figure was founded by SoFi founder Mike Cagney, the founder of the more established fintech company SoFi, his wife June Ou, Alana Ackerson, a former CEO of the Theil Foundation, and Cynthia Chen, a former venture partner with DHVC (Danhua Capital).

It can be recalled that Cagney had lost his role as the CEO of SoFi back in 2017 following sexual harassment allegations.

Figure’s flagship product, the Figure Home Equity Loan Plus – a fixed-rate loan that provides approval in as little as five minutes and funding in five days – uses Provenance, the blockchain protocol the firm built and deployed last year. The company intends to soon launch a money market product and plans to expand into other business areas, including wealth management, unsecured consumer loans, and checking accounts.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,389.77 (+0.74%)
  • Ethereum (ETH) $161.70 (+1.11%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $315.03 (+2.34%)
  • Bitcoin SV (BSV) $264.57 (+2.37%)
  • Bitcoin (BTC) $8,389.77 (+0.74%)
Jan 24, 2020 (Friday)
12:24
Ripple CEO Brad Garlinghouse hints at the possibility of IPO
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:50
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:37
Japan ruling party lawmakers to propose digital yen in February: Report
11:00
Hackers becoming more sophisticated as crypto exchanges bolster security measures: Chainalysis
10:24
Crypto Technicals: XRP/USD slips below 21-EMA, more weakness to follow
10:23
Tether launches new stablecoin backed by physical gold
09:49
Crypto exchange ErisX partners with Etale to offer new trading features
09:23
World Economic Forum launches blockchain-based supply chain traceability platform
08:17
Crypto Technicals: LTC/USD holds above 51 mark, finds strong support at daily cloud
07:36
Liechtenstein's Financial Market Authority approves ethereum-based real estate tokenized fund
06:57
Greece to extradite alleged BTC-e operator Alexander Vinnik to France after supreme court ruling
05:26
Agribusiness blockchain initiative Covantis selects ConsenSys as technology partner
04:44
Crypto exchange Binance invests in blockchain startup Numbers
04:24
Crypto Technicals: ETH/USD holds above 21-EMA and cloud support, further weakness on charts
04:23
Indian IT firm Mphasis to develop blockchain privacy-enhancing tech solutions with QEDIT
04:04
Crypto Technicals: BTC/USD extends weakness, eyes next major support at 110-EMA (8134)
Jan 23, 2020 (Thursday)
13:26
Amun lists inverse bitcoin ETP on SIX Swiss Exchange
12:32
World Economic Forum creates framework to help central banks design and deploy CBDC
11:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft