Figure Technologies, a US-based fintech developer backed by online lending platform and wealth management service CreditEase, is raising $103m in series C funding, according to a securities filing cited by TechCrunch.
The regulatory document indicates the company had secured $58.8m as of November 4, though it has not released an official statement concerning the round.
Founded in 2018, Figure offers financial products such as home equity loans, mortgage refinancing and student loan refinancing. It relies on a proprietary blockchain, Provenance, and a token called Hash to conduct transactions.
The company had previously disclosed a total of $120m in equity funding in addition to an uncommitted asset-based financing facility sized at up to $1bn, which was secured through Provenance and supplied by financial services firms Jefferies and WSFS, through WSFS Institutional Services.
Figure raised $65m in a February 2019 series B round that reportedly included CreditEase’s Fintech Investment Fund. The fund lists Figure in its portfolio but has not confirmed any specifics of its investment.
The series B round was co-led by RPM Ventures and DST Global and also featured Ribbit Capital, DCM Ventures, Digital Currency Group, Nimble Ventures and Morgan Creek, and it came more than $50m in a series A round co-led by Ribbit Capital and DCM in May 2018.
Figure was co-founded by Mike Cagney, a co-founder and former chief executive of SoFi, the online finance platform developer backed by corporates SoftBank and Renren that was valued at $4.8bn as of May this year.
