In a Series D round led by Morgan Creek’s crypto venture capital arm Morgan Creek Digital Funding and digital asset-focused equity fund 10T Holdings, Figure announced Thursday that the company raised $200 million. Also, the new funding brings Figure’s valuation to $3.2 billion and which featured other existing investors like Digital Currency Group.
The new funding will help the company close new deals for its lending operations, build out its payments tool Figure Pay and seek a national bank charter from the United States Office of the Comptroller of the Currency, according to Figure co-founder Mike Cagney.
Figure is expanding its board of directors with executives from lead investors including Morgan Creek general partner Sachin Jaitly and 10T co-founder Stan Mironshik, in addition to the latest funding round.
10T general partner Dan Tapiero said that “Figure is building next-generation lending, trading, and settlement infrastructure for the Digital Asset Ecosystem,”
Founded in 2018, Figure is a venture-backed private blockchain holding company developing products for lending, asset management, banking and payments, all of which are based on the Provenance blockchain. Figure co-founder Cagney is also the founder of American online personal finance company SoFi.