Cagney was previously the CEO of SoFi; his new venture focuses on home equity loans using blockchain to make the process more efficient; he has raised $50 million for the firm called Figure; two global banks have already signed on to finance loans and others have agreed to purchase loans; Ribbit Capital and DCM ventures led the round with participation from Peter Thiel’s Mithril Capital; the company plans to lend in the third quarter of 2018. Source
