FigureTechnologies, a financial technology company announced that it has closed a $103million (?78.3m) series C funding round led by Morgan Creek Digital and joinedby MUFG Innovation Partners and other new and existing investors.
Thecompany’s goal is to help stakeholders lend money through the use of blockchaintechnologies. Key products include Figure Home Equity Line, which aims to provideapproval for a line of credit in as little as five minutes, as well as Provenance,which is billed as a distributed stakeholder blockchain for loans.
Thefirm’s total funding has now gone past ?171.1m and the valuation has nowprogressed to ?912.2m.
MikeCagney, co-founder and CEO of Figure Technlogies, said: “This investment isgoing to give us the resources we need to further fuel our mission ofleveraging blockchain to reinvent lending, borrowing and investing forconsumers and the financial industry, both in the U.S. and abroad.”
Earlierthis month, New York-based blockchain as a service (BaaS) solutions providerHorizon announced $5 million in a series A funding round. According to Horizon,the funding will further enhance and boost the operations of its proprietarytechnology. It will also play an important role in supporting the growth of itssoftware licensing business and its trading-operations services. The firm hasalso signed agreement with a US broker dealer working to build anSEC-registered ATS.
A report from Navigant Research last month stated that 236 vendors, 254 projects and nearly ?532.2m in cumulative funding has been invested into energy blockchain development since 2015 across five global regions. Johnathon de Villier, research analyst with Navigant Research, said: “Key findings from our analysis highlight the shift in focus away from transactive energy (TE) and peer-to-peer electricity trading toward pragmatic use cases with shorter maturity horizons and proven business models. In particular, recent project deployments have focused on renewable energy certificates and guarantees of origin.”
