Today Figure Technologies, the blockchain finance firm set up by SoFi founder Mike Cagney, announced it raised a $200 million Series D round of funding at a $3.2 billion valuation. Previous equity funding rounds have totaled more than $230 million apart from debt financing for its home lending business which has surpassed $1 billion.
The round was co-led by 10T Holdings and Morgan Creek Digital and other participants include DCM, Digital Currency Group, HCM Capital, Ribbit Capital, RPM Ventures, the partners at DST Global and others. 10T and Morgan Creek each take a seat on the board.
Figure has numerous activities in the blockchain sector, which all use the Provenance blockchain that it created. It started off focusing on financing domestic real estate (HELOCs to be specific) and has since expanded into capital table management, fund management and administration, banking and payments. Figure Pay aims to provide point-of-sale credit to the unbanked and underbanked. Yesterday it even had a Congressional Representative asking the head of the OCC about the progress of its national bank charter application.
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