Figure Technologies has had a momentous past two years. The company launched in January 2018, ramping up operations and raising more than $50 million by March. Their locations in San Francisco, Texas, and Montana, soon supported a staff of 105. By December 2018, they felt ready to expand further.
They’ve done so by coming to the “Biggest Little City in the World.” With them, they’ve brought almost 100 new jobs. And the tech finance company has plans for continued growth. Figure’s successful transition to operations in Reno-Sparks has involved dedicated leaders. These include Tony Hnat, Vice President of Operations. He’s a resourceful and cutting-edge leader in the financial technology and military spaces. And he has a lot to say about how Figure is forging a new future for lending.
Keep reading for his tech insights as well as why he loves calling Northern Nevada home.
Building a Finance Tech Company to Northern Nevada
Before working for Figure, Tony was Chief of Operations for the 1st Marine Raider Battalion. His job involved overseeing the staffing, training, and equipping of more than 400 personnel. And he managed a budget of more than $8 million. His transition from the military to the civilian workplace has proven smooth, and he thrives in Figure’s tech-savvy, innovative space.
Figure expanded to Reno for many compelling reasons. According to Tony, “This area comes with an educated workforce, lots of economic opportunity, and a forward-thinking legislative atmosphere. We’ve already been able to leverage this climate for the beneficial growth of the company.”
Nevada is one of only a handful of states that accepts remote notarization via webcam. This innovative approach is crucial to Figure, a company based on convenience and digital processes. The company’s leaders were also impressed by the University of Nevada, Reno’s College of Engineering, and the city’s growing tech hub role.
Tony notes, “Quite honestly, the term “biggest little city” is very resonant here. From interacting with the governor’s office of Economic Development to the Governor himself, we’ve appreciated the incredibly supportive environment. We’ve also enjoyed the willingness to help others understand the value proposition of Figure coming to Northern Nevada. This same level of support has been present with EDAWN, local legislators, and the Reno City Manager’s office.”
Providing Pioneering Digital Financing Solutions
Figure Technologies’ products include home equity lines of credit, student loan refinance, and mortgage refinance with expansion into other services coming soon. Figure has gone to great lengths to distinguish itself from other lenders through the use of blockchain technology. From digital notarization to transacting in cryptocurrencies, the company offers state-of-the-art financing solutions.
To facilitate the lending process, Figure has created a first-of-its-kind technology, Provenance. Provenance combines the immutable, distributed characteristics of blockchain with the functions of ledger, registry, and bilateral exchange for assets and markets. The result? The elimination of the need for intermediaries and a reduction in cost, time, and friction in the current process.
As Tony puts it, “Figure’s proposition is simple. By relying on cutting-edge technologies, we can complete loan approval in five minutes and funding in five days. Our mission is to help our members achieve financial solutions faster than anybody else.”
Life in Northern Nevada
Tony has found many fantastic ways to relax in the Reno-Tahoe area. Figure’s Reno office sits three minutes on foot from Chef Mark Estes’s delectable homage to farm-fresh cuisine Liberty Food & Wine Exchange. Tony likes Liberty’s family-friendly environment. He’s also a staunch advocate of its delicious menu.
“Aside from the business-friendly community, excellent food, and receptiveness to new technologies, it’s incredibly beautiful. Reno sits 20 minutes from Mt. Rose Ski Resort, and Reno-Sparks is developing without inhibiting access to nature. Our office overlooks the Truckee River, providing gorgeous views. There are countless opportunities here. The best testament to the area’s livability is that the people who come here, stay here.”
Are you interested in learning more about relocating your tech company to Nevada? Or, perhaps you’d like to browse the best tech jobs in Reno-Tahoe? Contact us for more of what’s happening in Northern Nevada and why you want to be here.