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Figure (company)

Figure (company)

Figure is a San Francisco-based company that uses blockchain technology to provide home equity loans online.

Figure is a San Francisco based company that provides home loans. It's also offering wealth management, unsecured consumer loans, and checking accounts offered in partnership with an existing bank.



Figure has stated that it targets older customers who may not have income but do have real estate.

Product

Figure's flagship product is Figure Home Equity Loan Plus, a fixed-rate loan. From September 2018 to February 2019, Figure funded more than 1,500 HELOCs for members across 36 states.



Figure built and deployed Provenance, a distributed stakeholder blockchain, in 2018. The company leverages the security, efficiencies and cost advantage of blockchain for loan origination, financing and sales and has a diverse set of funds, banks and dealers active on Provenance.

Timeline

December 2019

Figure raises a $1,200,000,000 series C round from Morgan Creek Digital.

February 27, 2019

Figure raises $65 Million in Series B funding 

The round was led by RPM Ventures and partners at DST Global, with participation from investors Ribbit Capital, DCM, DCG, Nimble Ventures, Morgan Creek and others.

February 2019

Figure raises a $65,000,000 series B round from RPM Ventures, DCM Ventures, DCG, Ribbit Capital, Morgan Creek Digital, DST Global and Nimble Ventures.

Funding rounds

People

Name
Role
LinkedIn

 June Ou

COO and Co-founder



Anthony Noto

CEO



Cristina Gutierrez

Employee



Mike Cagney

Co-founder



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News

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Connie Loizos
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TechCrunch
Figure, a 13-month-old, San Francisco-based company that says it uses blockchain technology to provide home equity loans online in as little as five days, has raised a whole lot of money in not a lot of time: $120 million to date, including $65 million in fresh funding from RPM Ventures and partner...

References