Tessera Invests in Figure Series B

Welcome Figure!

Tessera invests in series B round along with RPM and DST partners for a total of $65M. This brings Figure's total equity funding to more than $120 million as it starts its second year of operations.

Figure's flagship product, Figure Home Equity Loan Plus, is a fixed-rate loan that provides approval in as little as five minutes and funding in five days — all online. It also combines the best characteristics of a traditional home equity loan and a HELOC. It allows consumers to borrow against the equity in their homes without the paperwork-intensive, 45-day process traditional lenders require. Since September 2018, Figure has funded more than 1,500 HELOCs for members across 36 states. [Press Release]

About Figure: 

Figure Technologies, Inc. creates innovative consumer financial solutions for home improvement, debt consolidation and retirement while providing its members with financial education and financial empowerment. Its mission is to build and promote innovative financial products on blockchain that benefit consumers and eliminate rent-seeking, illiquidity and other inefficiencies present in current financial markets. The company's flagship product, the Figure Home Equity Loan Plus, uses Provenance, the blockchain protocol Figure created. Based in San Francisco, Figure was co-founded by Mike Cagney, former co-founder and CEO of SoFi, along with Alana Ackerson, Cynthia Chen, June Ou and Sara Priola. Figure has more than 100 employees in offices in California, Nevada and Montana.