Tessera invests in Provenance

Welcome Provenance!

Tessera Completes its 5th investment in Provance, a breakthrough blockchain protocol for financial companies. Alongside this investment Provenance has secured $1 billion in asset based financing from Jeffries and WSFS to help facilitate loans for Figure (another TVP investment). Figure leverages Provenance to originate, finance, and sell its HELOC loans to banks, asset managers, and credit funds -- all entirely on blockchain. Last month, Figure originated over $59MM in HELOCs on chain, providing members with 5-minute approval and 5-day funding, all online.