NEW YORK--(BUSINESS WIRE)--Figure Technology Solutions (“Figure”), provider of a disruptive and scaled technology platform built to enhance efficiency and transparency in financial services, today announced the appointment of Michael Tannenbaum as Chief Executive Officer and a member of the Board of Directors, effective immediately. In conjunction with the appointment, Mike Cagney, Co-Founder and previous Chief Executive Officer of Figure, has assumed the role of Executive Chairman.
Mr. Tannenbaum is a seasoned finance executive with over 15 years of experience in financial technology and financial services. Most recently, Mr. Tannenbaum served as Chief Operating Officer at Brex, where he helped scale the company from a three-person startup in 2017 to a global entity with more than 1,200 employees, over $300 million in revenue, and a multi-billion dollar valuation. Mr. Tannenbaum also served as Chief Financial Officer and Chief Business Officer during his nearly seven years at Brex, and currently serves on the company’s board of directors. Prior to that, he served as Chief Revenue Officer at SoFi, where he played a key role in the company’s leadership. He also led the company’s mortgage business during his tenure.
Mr. Cagney said, “We are excited to welcome Michael to Figure at a pivotal period of growth for the company. Michael’s outstanding track record of implementing transformative capital market solutions at global fintech companies, keen ability to attract and nurture top talent, and deep understanding of our business will be a significant asset to Figure. We look forward to leveraging Michael’s leadership and creativity as we continue to evolve and work towards our goal of creating more efficient and transparent capital markets.”
Mr. Tannenbaum said, “With its proven ability to develop cutting-edge technological solutions to streamline the HELOC lending process, Figure has cemented itself as one of the most exciting companies in fintech. I am humbled to join Mike and this extremely talented team that is setting a new standard for the finance industry and look forward to leading Figure into its next phase of growth.”
The appointment of Mr. Tannenbaum follows the launch of Figure’s DART System, a combined lien filing and eNote registry service, and the company’s AI and machine learning-powered borrower-facing chatbot, which improves customer support efficiency and further streamlines the HELOC origination process.
About Figure Technology Solutions
Figure Technology Solutions provides a disruptive and scaled technology platform built to enhance efficiency and transparency in financial services. Figure Technology Solutions aims to leverage the loan origination activities of its subsidiary, Figure Lending LLC, and its vast network of loan origination partners to deliver and scale new products. Its platform is designed to create more transparent and efficient capital markets through the unique combination of its cutting-edge technology, and the growing pool of assets originated on its platform. Figure Lending is the largest non-bank originator of home equity lines of credit.1 With Figure Lending’s HELOC product, consumers can get approved for a loan in as few as 5 minutes, with funding in as little as five days. The company was founded in 2018 by serial technology entrepreneurs Mike Cagney and June Ou, the visionaries behind the successful transformation of SoFi into a multi-billion-dollar business. To learn more, please visit www.figure.com.
1Data accurate as of 2022
