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Submission declined on 18 November 2024 by Bobby Cohn (talk).
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This draft has been resubmitted and is currently awaiting re-review. |  |
| Company type | Private |
|---|---|
| Industry | Fintech |
| Founded | January 10, 2018 |
| Founder | Mike Cagney June Ou |
Key people | Mike Cagney Michael Tannenbaum (CEO) |
| Website | figure |
Figure Technology Solutions (FTS) is a financial technology (fintech) company established in 2024 when it's parent company, Figure Technologies Inc, split into two companies. FTS focuses on providing technology-driven lending solutions and tools for the loan origination and capital markets ecosystem[1]. Its flagship product is the Figure Home Equity Line of Credit (HELOC), which offers a digital application process and simplifies the approval and funding processes[2].
History
editFigure Technology Solutions (FTS) is a financial technology company that was established in March 2024 after completing a spin-off from its former parent entity, Figure Technologies, Inc.[1]
Figure Technologies Inc., founded in 2018 by Mike Cagney, former CEO of SoFi, is a financial technology company.[3] The company leverages blockchain technology to streamline and standardize credit, aiming to reduce transaction costs, and enhance accessibility for borrowers and capital markets participants.[1]
In April 2024, Michael Tannenbaum was appointed as Chief Executive Officer of FTS[4]. Prior to his role, he served as Chief Operating Officer at Brex.[5]
Growth
editFigure Technology Solutions is backed by DCM, RPM, 10T, Morgan Creek, Ribbit[2] and has raised over $1.5 billion dollars in funding[6].
In Fall 2024, Figure introduced a piggyback HELOC, which will allow homeowners to reduce upfront costs when purchasing a home.[7][8]
References
edit- ^ a b c "New Parent for Figure Lending - Home Equity Lending News". Home Equity Lending News. 2024-03-18. Retrieved 2024-11-18.
- ^ a b Ben-Hutta, Gabriella (2021-05-20). "Figure raises $200 million". Coverager - Insurance news and insights. Retrieved 2024-11-18.
- ^ Baxter, Brian (2024-09-04). "Cagney-Founded Figure, Looking Toward IPO, Hires Legal Chief (1)". www.news.bloomberglaw.com. Retrieved 2024-11-18.
- ^ PYMNTS (2024-04-23). "Figure Names Brex Veteran Michael Tannenbaum as CEO". PYMNTS.com. Retrieved 2024-12-16.
- ^ "Mike Cagney's Figure Technology Taps Tannenbaum as Its New CEO". Bloomberg.com. 2024-04-23. Retrieved 2024-11-18.
- ^ MacColl, Margaux (2024-09-26). "Former Brex COO who now heads unicorn fintech Figure says GPT is already upending the mortgage industry". TechCrunch. Retrieved 2024-12-16.
- ^ Robertson, Colin (2024-10-30). "Figure Launches a Piggyback Second Mortgage". The Truth About Mortgage. Retrieved 2024-11-18.
- ^ "Figure develops Piggyback HELOC to aid homebuyers with upfront costs". www.mpamag.com. Retrieved 2024-12-16.
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Make sure you add references that meet all four of these criteria before resubmitting. Learn about mistakes to avoid when addressing this issue. If no additional references exist, the subject is not suitable for Wikipedia.