Sixth Street backs blockchain lender Figure with $200M investment
Sixth Street, a $100-billion investment manager, is increasingly focused on consumer-oriented fintech solutions.
Global investment firm Sixth Street has invested $200 million in Figure Technology Solutions, a US-based lender that uses blockchain technology to boost efficiencies and lower costs in the lending market.
According to a Feb. 27 report by The Wall Street Journal, the investment will allow Figure to issue up to $2 billion in new loans. It will also help the company expand into other lending markets.
Figure Technology primarily issues home improvement loans but also offers business loans and debt consolidation services. It also operates a personal lending business that allows cryptocurrency investors to take out collateralized loans.
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Author: Sam Bourgi
