Figure builds consumer-facing lending products and institutional capital rails using blockchain and modern APIs. The platform focuses on speed and cost efficiency for mortgages, home-equity lines and personal loans by tokenizing assets and streamlining servicing, underwriting and capital markets distribution. Figure’s technology stack aims to reduce friction in loan origination and secondary markets via transparent ledgers and automated settlement. The company serves retail borrowers, mortgage originators and institutional investors seeking programmatic exposure to consumer credit assets.
What Is Figure and What Does It Do?
Figure, founded in 2018 by Mike Cagney and June Ou, is a San Francisco-based (United States) alternative-lending and fintech company that leverages blockchain to modernize lending, securitization and capital raising. Figure employs 463 people (Dec 31, 2022) and provides loan products (personal, home equity, refinancing), a blockchain-based issuance platform, and tools for loan servicing and secondary distribution. The company’s mission is to shorten time-to-capital and reduce operational costs through distributed-ledger technology and API-first services.
How Much Funding Has Figure Raised?
1. Series D
- Amount Raised: $200M
- Date: May 20, 2021
- Lead Investors: DST Global, Ribbit Capital, Digital Currency Group, others
- Motivation: Scale lending products and capital markets capabilities.
2. Series D (follow-on)
- Amount Raised: $7.5M
- Date: November 14, 2022
- Lead Investors: Reported follow-on investors
- Motivation: Continued product enhancements and working capital.
Total Funding Raised: $435 Million
Latest Funding Date: May 22, 2025
Key Investors
1. DST Global
- Details: Global growth investor focused on high-growth internet and fintech companies.
- Investment Focus Areas: Consumer fintech, marketplaces.
- Notable Investments: Facebook, Airbnb (early investor networks).
2. Ribbit Capital
- Details: Fintech-specialist VC investing across lending, infrastructure and consumer finance.
- Investment Focus Areas: Fintech, lending platforms, payments.
- Notable Investments: Coinbase, Robinhood, Affirm.
3. Digital Currency Group / HCM / Apollo (syndicate investors)
- Details: Broader crypto and institutional investor syndicate supporting blockchain infrastructure.
- Investment Focus Areas: Crypto, fintech, capital markets innovation.
Where Is Figure’s Headquarters?
Figure is headquartered in San Francisco, United States, positioned within the fintech and blockchain ecosystem.
What’s Next for Figure?
Figure will continue productizing blockchain-native securitizations, broaden mortgage & HELOC offerings, and deepen partnerships with banks and institutional capital providers to scale on-chain loan distribution.
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