What is Figure?
Figure Technologies, headquartered in San Francisco, California, is a financial technology innovator founded in 2018. The company specializes in transforming lending and financial services through its proprietary blockchain network, Provenance Blockchain. Figure offers a suite of products including home equity lines of credit (HELOCs), home improvement loans, personal loans, and mortgage refinancing. By leveraging blockchain, AI, and advanced analytics, Figure streamlines the entire lending lifecycle, from application to funding, aiming for faster transactions and reduced costs compared to traditional methods. Their platform has facilitated billions in loan originations, positioning them as a key player in the digital lending landscape.
How much funding has Figure raised?
Figure has raised a total of $2.5B across 8 funding rounds:
Series A
$50M
Multiple Rounds
$1.2B
Debt
$100M
Series D
$200M
Other Financing Round
$200M
IPO
$787.5M
Series A (2018): $50M with participation from Ribbit Capital, Mithril Capital Management, and DCM Ventures
Series B (2019): $65M led by Ribbit Capital, DCG, Morgan Creek Capital Management, Nimble Ventures, RPM Ventures, DCM Ventures, and DST Global
Debt (2019): $1B supported by Jefferies Financial Group and WSFS Institutional Services
Series C (2019): $103M featuring Morgan Creek Digital and MUFG Innovation Partners
Debt (2021): $100M backed by JPMorgan Chase & Co.
Series D (2021): $200M with participation from HCM Capital, Digital Currency Group, DCM, Morgan Creek Digital, and 10T Holdings
Other Financing Round (2025): $200M led by Sixth Street
IPO (2025): $787.5M supported by Ribbit Capital
Key Investors in Figure
Ribbit Capital
Ribbit Capital is a venture capital firm that invests globally in unique individuals and brands who are aiming to disrupt financial services. Headquartered in Palo Alto, Ribbit believes the category is profoundly under-innovated and is looking to support entrepreneurs who have already launched the businesses of the future. The company was founded in 2012.
Sixth Street
Sixth Street is a global investment firm with significant assets under management, known for investing in various sectors including technology and financial services. They have a history of backing prominent companies and are recognized for their strategic investment approach.
Digital Currency Group
Digital Currency Group is a prominent entity focused on accelerating the development of a better financial system through investments in bitcoin and blockchain companies. They are a significant player in the digital currency industry, owning and operating key businesses within the sector.
What's next for Figure?
With a significant influx of enterprise-level capital and a recent strategic investment, Figure is poised for accelerated growth and product development. The company's focus on blockchain-enabled lending solutions, including its proprietary Provenance Blockchain, suggests a strategic push towards greater efficiency, transparency, and scalability in financial services. Future initiatives will likely involve expanding their product portfolio, enhancing their blockchain infrastructure, and potentially exploring new market segments or partnerships to further solidify their position as a leader in fintech innovation. The substantial backing indicates strong investor confidence in Figure's long-term vision and its capacity to disrupt traditional financial markets.
See full Figure company page
