San Francisco-based blockchain firm Figure Technologies has filed with the SEC for a $103 million Series C funding,
reported TechCrunch. The round was led by Morgan Creek Digital, included MUFG Innovation Partners and the valuation was $1.2 billion.
This follows
rumors we covered a few months back that Figure was raising $100 million at a valuation of more than $1 billion and we estimate its cumulative equity funding at $233 million.
The startup initially focused on home equity lines of credit (HELOC) using blockchain technology. Additionally, it’s starting student loan refinancing and conventional mortgages which it plans to be fully functional by the end of the year. In April it advanced $59 million and was expecting the loans originated to reach $80 million for August. Cumulatively the amount advanced is $700 million.
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