Feb. 28, 2019
Figure Technologies Inc., a San Francisco-based home equity and blockchain firm, said it raised $65 million in Series B funding led by RPM Ventures and partners at DST Global.
Additional participants included Ribbit Capital, DCM, DCG, Nimble Ventures, Morgan Creek.
"We are encouraged by what we’ve accomplished in our first year, and this investment validates Figure’s market potential," Mike Cagney, co-founder and CEO at Figure Technologies, said in the announcement.
The firm offers a fixed-rate line of credit called Figure Home Equity Loan Plus that takes about five minutes to apply for online and can be funded in about five days. The company has funded more than 1,500 home-equity lines since September 2018.
The origination, financing and sale of Figure loans is done over Provenance, a distributed stakeholder blockchain that the company created in 2018. While Figure Technologies developed Provenance, it plans to bring other companies onboard in 2019.
Topics: Financial News, Mobile Banking, Money Transfer / P2P
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