Total amount raised
$1.5 Billions
Latest funding date
Location
Title
Figure has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The platform leverages blockchain and AI to offer consumer financial solutions, including home equity lines of credit and debt consolidation services.
Keep reading to explore the intricacies of Figure's fundraising journey and the investors backing this innovative platform.
What Is Figure?
Figure, founded on January 1, 2018, in San Francisco, California, leverages blockchain technology to offer innovative financial services. The company provides consumer financial solutions, including home equity lines of credit, home improvement loans, and debt consolidation services.
Founded by Alana Ackerson, Cynthia Chen, June Ou, Michael Cagney, and Sara Priola, Figure aims to revolutionize the financial industry with advanced analytics and artificial intelligence. The company has grown rapidly since its inception.
With a workforce of 501-1000 employees, Figure continues to expand its offerings and impact in the financial sector, providing seamless and efficient solutions for its customers.
How Much Funding Has Figure Raised?
- Series A
- Amount Raised: $50M
- Date: May 2018
- Lead Investors: DCM Ventures, DST Global, Ribbit Capital, RPM Ventures, Sebastian Zhou
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch initial financial products leveraging blockchain technology.
- Series B
- Amount Raised: $73.6M
- Date: February 2019
- Lead Investors: RPM Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale operations.
- Debt Financing
- Amount Raised: $1B
- Date: May 2019
- Lead Investors: Jefferies, WSFS Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support large-scale lending operations.
- Initial Coin Offering
- Amount Raised: $20M
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To explore blockchain-based fundraising mechanisms.
- Series C
- Amount Raised: $103M
- Date: December 2019
- Lead Investors: Morgan Creek Digital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance blockchain infrastructure and expand financial services.
- Debt Financing
- Amount Raised: $100M
- Date: January 2021
- Lead Investors: JP Morgan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing lending operations and product development.
- Secondary Market
- Amount Raised: $1.5M
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Series D
- Amount Raised: $200M
- Date: May 2021
- Lead Investors: 10T Holdings, Morgan Creek Digital
- Valuation at Round: $3.2B
- Motivation Behind the Round: To close new deals for lending operations, develop Figure Pay, and seek a national bank charter.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand product offerings and market reach.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhancing technology.
Figure has raised a total of $1.5481B with a current valuation of $3.2B.
Key Investors
- 10T Holdings
- Details: 10T Holdings is a crypto-focused equity fund that invests in digital asset companies. Co-founder Stan Miroshnik joined Figure's board after the Series D round.
- Investment Focus Areas: Digital Asset Ecosystem, next-generation lending, trading, and settlement infrastructure.
- Notable Investments: Not publicly disclosed.
- Morgan Creek Digital
- Details: Morgan Creek Digital is a venture capital firm specializing in blockchain technology and financial services. General partner Sachin Jaitly joined Figure's board following the Series D round.
- Investment Focus Areas: Blockchain technology, financial services.
- Notable Investments: Not publicly disclosed.
- DCM Ventures
- Details: DCM Ventures is a venture capital firm that invests in early-stage technology companies. They participated in Figure's Series D funding round.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Digital Currency Group
- Details: Digital Currency Group (DCG) is an investment firm focused on the digital currency market and blockchain technology. They participated in Figure's Series D funding round.
- Investment Focus Areas: Digital currency, blockchain technology.
- Notable Investments: Coinbase, Ripple, BitPay.
- Ribbit Capital
- Details: Ribbit Capital is a venture capital firm that invests in financial technology companies. They have been involved in multiple funding rounds for Figure.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Figure?
Figure's future is brimming with opportunities, particularly in expanding its blockchain-based financial services. The company aims to close new deals for lending operations, develop its payments tool, Figure Pay, and secure a national bank charter. These initiatives could significantly enhance its market presence and operational capabilities, positioning Figure as a leader in the trillion-dollar financial services industry.
Future fundraising seems promising, given the successful Series D round and the company's ambitious plans. However, challenges such as navigating regulatory landscapes and managing competition in the fintech space remain. Overcoming these hurdles will be crucial for Figure to fully capitalize on its growth potential.
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