# Fig Loans Texas

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fig-loans-texas

- Industry: Financial Services
- Headquarters: Sugar Land, US
- Website: www.figloans.com
- Total disclosed funding: $2.6M
- Latest round: Seed (Jun 4, 2018)
- Investors on record: 4

## About

Fig Loans is a financial services provider specializing in installment loans designed to serve those who may struggle with traditional payday loans, offering a transparent and manageable repayment structure.Fig Loans Texas, LLC was founded in 2015 and is headquartered in Sugar Land, Texas, US. The company focuses on providing installment loans as an alternative to payday lending, targeting individuals with limited access to conventional financial products. It has successfully completed a total of 3 funding rounds, with the most recent round occurring on December 3, 2019, where it raised USD 0.95 mn in venture funding.Fig Loans primarily offers installment loans as a credit-building alternative to traditional payday loans. Their core product allows customers to borrow amounts such as USD 300 over a term of four months, providing a transparent repayment plan with no hidden fees or complex terms. The loans are structured to be repaid in equal monthly installments, resembling the payment model of home loans, which aims to create a manageable repayment timeline within the customer's budget. Launched in 2016, Fig Loans targets individuals who may struggle to access conventional financial products, thereby catering to a client base that includes those with limited credit histories or urgent cash needs. Geographically, Fig Loans operates in several U.S. states, including Florida, Missouri, Ohio, Texas, Utah, and Wisconsin, among others, making its services available to a diverse range of consumers across various regions.Fig Loans generates revenue primarily through the interest incurred on the loans they provide to customers. The company employs a straightforward loan structure where clients choose their desired loan amount and repayment terms, resulting in fixed monthly payments over the loan duration. For instance, a customer taking out a USD 300 loan may see an APR of 190%, resulting in a total amount paid of approximately USD 427.44 over four months. This model ensures predictable revenue streams through monthly payments and appeals to customers looking for a transparent and manageable way to meet their financial needs. The revenue is driven by direct-to-consumer transactions, allowing Fig Loans to maintain a direct relationship with its clientele while focusing on providing accessible financial solutions.Following its latest funding round in December 2019, Fig Loans Texas, LLC is poised to enhance its product offerings and expand its market presence. The company is focusing on introducing new loan products designed to better serve its customers' financial needs. Additionally, Fig Loans is exploring opportunities for geographical expansion into new states, aiming to reach underserved markets throughout the U.S. The funding raised will be utilized to support these initiatives, facilitating the development of innovative financial solutions and enhancing customer accessibility.

## Funding rounds

- Seed, Jun 4, 2018, $2.6M — Village Capital, Access Ventures, Arrow Venture Partners, Tubergen Ventures

## Investors

- Village Capital (https://capitalatlas.ai/funds/village-capital) — Seed
- Access Ventures — Seed
- Arrow Venture Partners — Seed
- Tubergen Ventures — Seed