Blockchain lender Figure Technologies raised $200 million in a Series D round of funding, bringing the company’s valuation to $3.2 billion, according to The Block on May 2. The investment round was led by 10T Holdings and Morgan Creek Digital, with other investors including Digital Currency Group, Ribbit Capital, DCM and DST Global.
Founded in 2018 by former SoFi founder Mike Cagney, Figure uses the Provenance blockchain to provide financial services such as loans and mortgage financing.
Dan Tapiero, general partner at 10T Holdings, said.
Figure is building the next generation of lending, trading and settlement infrastructure. Blockchain Provenance’s speed, transparency, results and cost efficiencies will improve systems and frameworks in the traditional financial world.
Last year, Figure also applied for a U.S. banking license through the U.S. Office of the Comptroller of the Currency, but that application has not yet been approved. in December 2019, the company received $1.2 billion in Series C funding, at a valuation of $103 million at the time.
To date, Figure has raised more than $425 million in total funding. In addition, Stan Mironshik, co-founder and partner of 10T Holdings, and Sachin Jaitly, general partner of Morgan Creek, will join Figure’s board of directors.
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