Blockchain fintech company Figure receives US$200 million in financing

Figure Technologies, a blockchain-driven fintech startup, has received a large amount of funding for its mission to improve the financial services industry through the Provenance blockchain.

digital Announce On Thursday, the company raised $200 million in a Series D financing led by Morgan Creek’s cryptocurrency venture capital firm Morgan Creek Digital Funding and digital asset-focused equity fund 10T Holdings. Through new financing, including other existing investors such as Digital Currency Group, the new financing brings Figure’s valuation to $3.2 billion.

Figure co-founder Mike Cagney Say The new funds will help the company complete new transactions in its lending business, establish its payment tool Figure Pay, and seek a national bank charter from the Office of the U.S. Currency Inspector General.

In conjunction with the latest round of financing, Figure is expanding its board of directors, expanding the executives of major investors, including Morgan Creek general partner Sachin Jaitly and 10T co-founder Stan Mironshik. Dan Tapiero, general partner of 10T, said: “Figure is building a next-generation loan, transaction and settlement infrastructure for the Digital Asset Ecosystem.”

Founded in 2018, Figure is a venture-backed private blockchain holding company that develops products for loans, asset management, banking and payment, all products are based on the Provenance blockchain. Figure co-founder Cagney is also the founder of AOL personal finance company SoFi.

The news was released shortly after Figure roll out A new public, open source, decentralized, proof-of-stake blockchain was released on Wednesday. The new decentralized Provenance replaces the previously licensed Provenance blockchain launched in 2018.