Anthony Pompliano, founder of Morgan Creek Digital, has joined the board of directors of Figure Technology, a blockchain-based loan company, leading a $103 million C series financing round.
— Pomp 🌪 (@APompliano) December 5, 2019
“Every stock, bond, currency and commodity will be digitized in the future, and Figure Technology is far ahead in making this a reality.”
Pompliano therefore promotes Figure Technology’s mission to bring radical changes in the financial and lending markets by exploiting blockchain technology.
Other investors such as MUFG Innovation Partners Co, DCM, Digital Currency Group, HCM Capital, Ribbit Capital, RPM Ventures and The Partners at DST Global have also joined to support this round of financing dedicated to blockchain-based companies.
We talk about a total amount of financing in the various rounds that amounts to over $225 million, with a total valuation of Figure Technology of $1.2 billion.
Mike Cagney, co-founder and CEO of Figure stated as follows:
“The team at Figure has accomplished so much in under two years, and this funding is a testament to that work. This investment is going to give us the resources we need to further fuel our mission of leveraging blockchain to reinvent lending, borrowing and investing for consumers and the financial industry, both in the U.S. and abroad.”
The company’s flagship product appears to be a fixed-interest credit line, the Figure Home Equity Line, which aims to eliminate waste and downtime inherent in the lending process.
Figure Home Equity Line, in fact, allows consumers to obtain financing in five days, with an approval already available after five minutes from the submission of the request.
Not only that, Figure Technology has also prepared its own financing plan dedicated to students and mortgage financing for companies, for a total of $ 1 billion in loans, of which $ 700 million are HELOC based on blockchain.
With Anthony Pompliano on board, Figure Technology aims to become the fourth largest creator of HELOC in the United States.
The well-known supporter of bitcoin seems to want to concretize with his active participation in the blockchain world his own philosophical line communicated just two days ago to his followers.
In his post, in fact, Pompliano wanted to clarify the ideal of Bitcoin defining it as a peaceful protest against the system. A revolution that will change the world in which most people will be asked to trust software systems that are transparent to humans.