Figure Raises $200M, Valuing Blockchain Mortgage Firm at $3.2B

Blockchain lending startup Figure Technologies has raised $200 million in a Series D funding round that, it says, values the company at $3.2 billion.

• The investment was led by 10T Holdings and Morgan Creek digital and included contributions from new and existing investors such as DCM, DST Global and CoinDesk parent company Digital Currency Group (DCG).
• In addition to the funding round, Morgan Creek general partner Sachin Jaitly and 10T co-founder Stan Mironshik will join Figure's board, according to an emailed announcement Thursday.
• Figure uses its own blockchain, Provenance, as its marketplace for loans and mortgages, capital table management, fund management, banking and payments.
• The company had aimed to raise $250 million, according to a regulatory filing with the U.S. Securities and Exchanges Commission (SEC) in February.
• It's also applied for a U.S. banking charter that is still pending.
• During a Congressional hearing on Wednesday, Acting Comptroller Michael Hsu said he's had "preliminary discussions" about the pending charter, but it remains under review.