The figure blockchain-based mortgage lending platform raised $ 65 million from various large financial and venture capital firms, February 27 reports TechCrunch.
Founded by SoFi founder and former CEO Mike Cagney, the company reportedly raised funds from major companies such as Morgan Creek, partners at DST Global, DCM, Ribbit Capital and Nimble Ventures. According to TechCrunch, recent investments increase the total amount of funds raised by the firm to $ 120 million.
The new firm Cagney, which reportedly launched more than 1,500 lines of stock, allegedly targets older customers who are “easy on money and rich in stocks” or “CLARE”. The company currently lends $ 1.5 million a day – a figure that Cagney wants to double.
The former company Cagney SoFi is working with the largest US cryptocurrency base Coinbase to deploy support for cryptocurrency. The partnership with Coinbase is said to allow SoFi to launch cryptographic services by the second quarter of this year. CEO Anthony Noto said in an interview:
Our target audience wants to find out the price of cryptocurrency and buy it. They have a desire to do this, and in many cases they already exist.
Noto assumed the role of SoFi CEO after Cagney resigned amid sexual harassment charges in 2017.