Former SoFi CEO Mike Cagney’s blockchain lending startup Figure looking to raise $100 million

Former SoFi CEO Mike Cagney’s blockchain lending startup Figure looking to raise $100 million

Figure Technologies , the blockchain lending startup co-founded by former SoFi CEO Mike Cagney, is in full growth mode. Earlier this year, the company raised $65 million in its Series B equity funding.

And the company is seeking more funding to support that growth. According to a report from TechCrunch , Figure is planning to raise more than $100 million in a new round of equity funding.

The report, citing a filing with the Securities and Exchange Commission , states that Figure is trying to raise at least $103 million in new equity funding. The filing also states that Figure has already raised more than $58 million and plans to try to raise at least $44 million more.

Neither the TechCrunch article nor the SEC filing identify the sources of Figure’s new funding.

The company’s Series B funding was led by RPM Ventures and partners at DST Global , with participation from investors Ribbit Capital , DCM , DCG , Nimble Ventures , Morgan Creek , and others.

That round of funding pushed the company’s total funding to more than $120 million in just its second year of operating.

Cagney helped found Figure in 2018 after leaving SoFi in 2017 after reports emerged about the alleged toxic culture at the online lender.Under Cagney’s leadership, SoFi was the apple of investors’ eyes, including raising $500 million in its Series F financing led by Silver Lake and raising $1 billion , led by SoftBank .But the luster left SoFi quickly after allegations of how SoFi actually operated […]