TechFlow news, according to sources, blockchain financial services company Figure Technologies Inc. has abandoned its plans for a SPAC listing and is now seeking $100 million in funding. In addition, the company is exploring the divestiture of certain product lines to cope with the ongoing industry downturn.
The source said that Figure had been on track to raise $300 million in 2022, but the deal was put on hold due to the bear market. The current $100 million fundraising round may also face delays, as Figure refuses to accept a lower valuation.
In May 2021, blockchain lending platform Figure Technologies raised $200 million in a Series D round, achieving a $3.2 billion valuation. The round was co-led by 10T Holdings and Morgan Creek Digital, with participation from DCM, DST Global, and Digital Currency Group (DCG).Original link
