SoFi founder’s blockchain startup Figure raises another ~$59M; aiming for a total of over $100M

Quick Take

  • SoFi founder’s blockchain startup Figure Technologies has raised another ~$59 million, according to a public filing
  • The firm is planning to raise a total of over $100 million, with more than $44 million still to be raised 
  • Earlier this year, Figure raised $65 million in Series B, with participation from Morgan Creek, Digital Currency Group and several others 

Figure Technologies, a blockchain-powered financial services startup founded by former SoFi CEO Mike Cagney, has raised another ~$59 million in a new funding round.

San Francisco-based Figure started the round on Oct. 21 and has already seen participation from 36 undisclosed investors, according to a filing submitted to the U.S. Securities and Exchange Commission (SEC) last month. The startup is aiming to raise a total of $100 million through the round, which is ongoing and is expected to close within a year, per the filing.

Bloomberg reported Figure’s plan of raising more than $100 million at a $1 billion valuation in August, citing "people familiar with the matter."

Founded in Jan. 2018, Figure is already a well-funded startup, having raised $120 million from notable investors. Earlier this year, the firm raised $65 million in a Series B round, which was led by RPM Ventures and partners at DST Global, with participation from Morgan Creek, Digital Currency Group and Ribbit Capital, among others. Most recently, it secured up to $1 billion in uncommitted credit with backing from global investment banking firm Jefferies and financial services company WSFS Institutional Services.

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