Home equity, blockchain fintech business Figure gets $65m Series B

Home equity and blockchain fintech startup Figure Technologies has picked up $65m of Series B funding to kick off its second year of operation.

The funding round, which was led by RPM Ventures and partners at DST Global, more than doubles the total raised by the company to date to $120m.

Ribbit Capital, DCM, DCG, Nimble Ventures, Morgan Creek and others also took part in the round.

Figure co-founder and CEO Mike Cagney said, “We are encouraged by what we’ve accomplished in our first year, and this investment validates Figure’s market potential.

“We launched the fastest home equity line of credit in the market, and we originate, finance and sell every one of our loans on the Provenance blockchain, an industry first.

“From the diversity of our founding team to our alignment with our members’ financial success, we believe we’re building a different — and better — kind of technology company.”

Figure’s flagship product, Figure Home Equity Loan Plus, is a fixed-rate loan that provides online approval in as little as five minutes and funding in five days.

Figure built and deployed Provenance, a distributed stakeholder blockchain, in 2018 for loan origination, financing and sales.

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