Mike Cagney

Figure Raises $200 Million Series D Co-Led by 10T Holdings and Morgan Creek Digital

Retrieved on: 
Thursday, May 20, 2021

\xe2\x80\x9cProvenance, a new set of financial rails that is faster and less expensive than alternative solutions and is on the precipice of becoming adopted by major financial institutions.

Key Points: 
  • \xe2\x80\x9cProvenance, a new set of financial rails that is faster and less expensive than alternative solutions and is on the precipice of becoming adopted by major financial institutions.
  • This poses a significant opportunity to unlock value in many ways and we couldn\xe2\x80\x99t be more thrilled to support the team.\xe2\x80\x9d\n\xe2\x80\x9c10T believes that Figure is building next-generation lending, trading, and settlement infrastructure for the Digital Asset Ecosystem," said Dan Tapiero, General Partner of 10T Holdings.
  • \xe2\x80\x9cThe speed, transparency, finality, and cost-efficiency of Provenance blockchain will be an improvement to the systems and framework that exist in the traditional financial world.
  • The company was founded in 2018 by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion dollar business under his leadership as CEO.