Figure nearly triples Q2 profit as loan volume hits $4.3 billion

Figure nearly tripled its profit in the second quarter as activity accelerated across its consumer lending marketplace. Mike Cagney’s onchain lender said volume on its consumer loan marketplace jumped 132% year over year to $4.3 billion, and it added more than 100 new loan origination partners, pointing to a sharp increase in lending throughput and distribution.

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