“This investment is going to give us the resources we need to further fuel our mission of leveraging blockchain to reinvent the financial services industry,” said Mike Cagney, Co-Founder and CEO of Figure. “We’re thrilled to be backed by these top-tier institutions and our recently announced collaboration with Apollo will be an invaluable addition as we expand our business further.”

Earlier this month, Apollo (NYSE: APO), a high-growth, global alternative asset manager, announced its affiliates had entered into an agreement to collaborate with Figure on blockchain related initiatives. Apollo chose to work with Figure for its focus on and knowledge of financial services. Figure provides a range of blockchain-enabled solutions for institutions and individuals, including digital fund services that hold the promise of simplifying fundraising, distribution, and secondary trading for the private fund market.

Commenting on the collaboration, Apollo Senior Partner and Deputy CIO of Credit John Zito said, “We are excited to work with Mike and his team at Figure on a number of initiatives using Provenance blockchain technology specifically developed for our industry. This collaboration extends Apollo’s strategy of working with best-in-class fintech firms to seek the operational and cost benefits that blockchain and other technologies can bring to bear.”

Figure is using Provenance, a public, open-source, permissionless, decentralized blockchain, for its digital asset marketplaces including lending, capital table management, fund management and administration, and payments application. Learn more at Provenance.io.