Figure Technologies raised $200 million from Morgan Creek and other investors

The fintech startup Figure Technologies closed a $200 million Series D funding round. It was led by 10T Holdings and Morgan Creek Digital.

Digital Currency Group, DCM, DST Global’s partners, and Ribbit Capital joined the round, along with others. Figure Technologies was valued at $3.2 billion.

“These investments will provide the resources needed to further develop our mission to use blockchain to rethink the financial services industry,” said Figure Technologies’ CEO Mike Cagni.

10T co-founder Stan Miroshnik and Morgan Creek’s general partner Sachin Jaitly also joined the startup’s board of directors.

Figure Technologies specialises in issuing loans secured by residential real estate on its own Provenance blockchain.

In 2019 the startup raised $103 million in a Series C round. As a result, Morgan Creek Digital co-founder Anthony Pompliano joined the board.

In March 2020, Figure Technologies became the first to securitize on a blockchain.