Figure Markets plans to raise US$50 million, Jump Crypto may become a major investor

According to two informed sources, Figure markets plans to raise $50 million with a valuation of $250 million (excluding the financing amount), and Jump Crypto may become the main investor.

Figure Markets is the digital asset department of Figure Technologies, a blockchain and lending startup founded by former SoFi Technologies CEO Mike Cagney. A source said that this funding will be used to support the operation of Figure Markets.

Figure, founded by Cagney in 2018, uses blockchain to build financial products such as loan issuance. According to Bloomberg's report in November last year, Figure's loan department LendCo has been working with banks to conduct its initial public offering.