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About Figure
Industries
Fintech
Crypto & Web3
Company Size
201-500
Company Stage
Series D
Total Funding
$1.5B
Headquarters
New York City, New York
Founded
2018
Overview
Figure is a financial technology company that uses blockchain technology to improve financial transactions, specifically in the home equity lending market. It offers products like Home Equity Lines of Credit (HELOCs) and mortgage refinancing, allowing homeowners to access their home equity quickly and efficiently. The application process is fully online, enabling homeowners to receive funds in as little as five days, which is much faster than traditional banks that can take weeks or months. By utilizing blockchain, Figure ensures that transactions are secure and cost-effective. The company generates revenue through origination fees and interest on loans, with competitive rates starting at 3.49% APR. Figure targets homeowners across various states in the U.S. and aims to expand its services further. The goal is to provide reliable access to home equity for purposes like home improvements, debt consolidation, or emergency expenses.
Simplify's Take
What believers are saying
- Figure's blockchain-based marketplace, 'Figure Connect', enhances private credit market liquidity.
- Michael Tannenbaum's appointment as CEO suggests strategic growth potential.
- Joint venture with Sixth Street brings $2 billion liquidity to non-agency mortgage market.
What critics are saying
- Increased competition from banks and fintechs may erode Figure's market share.
- Cryptocurrency market volatility could impact Figure's blockchain services.
- Regulatory scrutiny on blockchain may increase compliance costs for Figure.
What makes Figure unique
- Figure uses blockchain for secure, efficient financial transactions.
- Figure offers a fully online application process for quick home equity access.
- Figure's competitive interest rates start as low as 3.49% APR.
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Funding
Total Funding
$1518M
Above
Industry Average
Funded Over
6 Rounds
Benefits
Health & wellness - Figure pays 100% of premium costs for employees and dependents for medical, dental, and vision insurance (with the exception of costs associated with the buy-up medical plan.)
Continuing education - Figure will reimburse eligible employees for approved continuing education that either offers growth in an area related to his or her current position or that may lead to promotional opportunities.
Flexible time off - We offer 10 company-wide holidays plus one personal holiday, generous Flexible Time Away (FTA), Paid Time Off (PTO), and Paid Parental Leave.
Bonus & stock options - Figure’s Bonus Plan recognizes and rewards eligible employees’ efforts and contributions. Eligible employees are also granted an option to purchase a set number of shares of Figure’s common stock.
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -3%2 year growth
↓ -2%Figure Named to Fast Company's Annual List of the World's Most Innovative Companies of 2025NEW YORK, March 19, 2025 /PRNewswire-PRWeb/ -- Top non-bank HELOC lender joins the ranks of Apple, Robinhood, and PlaidFigure Technology Solutions ("Figure"), a technology platform powering a more efficient, liquid, blockchain-based marketplace for financial products, is proud to have been named to Fast Company's prestigious list of the World's Most Innovative Companies of 2025. This year's list shines a spotlight on businesses that are shaping industry and culture through their innovations to set new standards and achieve remarkable milestones in all sectors of the economy. Alongside the World's 50 Most Innovative Companies, Fast Company recognizes 609 organizations across 58 sectors and regions."Home equity is a key asset for many American homeowners, helping them improve their financial health and fund life's major milestones. Our technology makes tapping that equity easier, faster, and more affordable," said Michael Tannenbaum, CEO of Figure. "Being recognized by Fast Company as one of top ten most innovative finance companies in the world is an honor. It reflects our commitment to transforming the future of the capital markets through standardization, blockchain, AI and other technologies—reducing costs, improving speed, and expanding opportunities for homeowners, homebuyers, and lenders alike."Figure's investments in technology and partnerships drove 60% YoY growth in 2024, building a resilient, rate-agnostic business that can thrive in any environment
NEW YORK, NY - December 4, 2024 - Figure Technology Solutions ("Figure"), a technology platform powering a more efficient and liquid marketplace for financial products, today announced that Macrina Kgil, a seasoned finance executive, joined as Chief Financial Officer.
Figure Technologies laid off 90 employees this week, or about 20% of its staff, while it's also interviewing bankers in advance of a planned initial public offering for its lending business next year, according to documents reviewed by Bloomberg.
Figure Lending has unveiled a new piggyback loan at a time when housing affordability has rarely been worse.
Figure is Hiring for 10 Jobs on Simplify!
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About Figure
Industries
Fintech
Crypto & Web3
Company Size
201-500
Company Stage
Series D
Total Funding
$1.5B
Headquarters
New York City, New York
Founded
2018
Figure is Hiring for 10 Jobs on Simplify!
Find jobs on Simplify and start your career today
People Also Viewed
Discover companies similar to Figure