Figure Technologies was founded in 2018 by Alana Ackerson, Cynthia Chen, June Ou, Michael Cagney, and Sara Priola. In 2021, co-founder and CEO Cagney (co-founder/former CEO of SoFi) and a group of other Figure employees started Figure Acquisition Corporation, a publicly traded SPAC that seeks to develop a portfolio of financial service and fintech companies. While Figure Acquisitions is a separate entity from Figure Technologies, the two companies are closely affiliated. These comments should not be interpreted to mean that Figure Technologies is formally pursuing or foregoing an IPO.
Figure is the developer of a web-based platform that manages digital assets and can be used for completing financial and investment transactions. The company uses blockchain technology to optimize traditional financial services. In 2021, Figure Technologies acquired HomeBridge Financial Services, a non-bank loan company. Figure has raised over $1.6 billion in Venture Capital funding, most recently in a 2021 round that brought in $200 million from investors such as Ulu Ventures, Sun Hung Kai & Co, RPM Ventures, and Morgan Creek Digital. The company was last valued at $3.2 billion.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
05/20/2021 | Series D | $220MM | $xx.xx | $332.58B | 10t Holdings, Dcm, Digital Currency Group, Dst Global, Hcm Capital, Morgan Creek Capital, Ribbit Capital, Rpb Ventures | |
Price per Share
$xx.xx
Shares Outstanding
12,439,325
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
10t Holdings, Dcm, Digital Currency Group, Dst Global, Hcm Capital, Morgan Creek Capital, Ribbit Capital, Rpb Ventures
|
||||||
12/05/2019 | Series C-1 | $3.05MM | $xx.xx | $120.53B | Morgan Creek Capital, Mufg Innovation Partners | |
Price per Share
$xx.xx
Shares Outstanding
504,081
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Morgan Creek Capital, Mufg Innovation Partners
|
||||||
12/05/2019 | Series C-2 | $15MM | $xx.xx | $120.53B | Morgan Creek Capital, Mufg Innovation Partners | |
Price per Share
$xx.xx
Shares Outstanding
1,983,287
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Morgan Creek Capital, Mufg Innovation Partners
|
||||||
12/05/2019 | Series C | $100MM | $xx.xx | $120.53B | Morgan Creek Capital, Mufg Innovation Partners | |
Price per Share
$xx.xx
Shares Outstanding
13,221,916
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Morgan Creek Capital, Mufg Innovation Partners
|
||||||
02/27/2019 | Series B | $73.59MM | $xx.xx | $38B | Alpha Square Group, Creditease, Dcm Ventures, Digital Currency Group, Dst Global, Morgan Creek Capital Management, Nimble Ventures, Ribbit Capital, Rpm Ventures, Temerity Capital Partners, Thirdstream Partners, Ulu Ventures | |
Price per Share
$xx.xx
Shares Outstanding
29,476,826
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Alpha Square Group, Creditease, Dcm Ventures, Digital Currency Group, Dst Global, Morgan Creek Capital Management, Nimble Ventures, Ribbit Capital, Rpm Ventures, Temerity Capital Partners, Thirdstream Partners, Ulu Ventures
|
||||||
05/24/2018 | Series A | $41.79MM | $xx.xx | $15B | Baseline Ventures, Conversion Capital, Dcm Ventures, Dhvc, Fin Venture Capital, Mithril Capital Management, Nimble Ventures, Ribbit Capital, Rpm Ventures, Thomvest Ventures, Ulu Ventures | |
Price per Share
$xx.xx
Shares Outstanding
32,886,739
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Baseline Ventures, Conversion Capital, Dcm Ventures, Dhvc, Fin Venture Capital, Mithril Capital Management, Nimble Ventures, Ribbit Capital, Rpm Ventures, Thomvest Ventures, Ulu Ventures
|
||||||
01/11/2018 | Series Seed | $16.95MM | $xx.xx | $10B | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
16,103,128
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
|