Figure Technology Solutions Business Summary

Figure Technology Solutions, Inc. (FIGR) operates as a blockchain-native capital marketplace that facilitates the origination, funding, and secondary trading of tokenized real-world assets. The company generates revenue primarily through transaction-based marketplace fees, loan origination fees via its Figure Lending subsidiary, and technology licensing for its proprietary Digital Asset Registry Technology (DART). Its business is divided into three core segments: the Consumer Loan Marketplace, which has originated over $22 billion in home equity lines of credit (HELOCs); Figure Connect, a capital-light distribution platform for loan originators; and its decentralized finance (DeFi) ecosystem, which includes the $YLDS yield-bearing stablecoin and the Democratized Prime on-chain lending marketplace. Positioned as the largest non-bank provider of home equity financing in the U.S., Figure competes directly with fintech and traditional lending giants such as SoFi Technologies, Rocket Companies, and Corpay, distinguishing itself through its use of the Provenance Blockchain to reduce intermediation costs and accelerate settlement times. The company was co-founded by Executive Chairman Michael Cagney, the former CEO of SoFi, and June Ou, bringing a high-pedigree background in disruptive consumer finance. The leadership team is led by CEO Michael Tannenbaum, who previously served as COO and CFO of Brex and Chief Revenue Officer at SoFi, supported by CFO Macrina Kgil (formerly of OnDeck) and CTO Matt Hellwinkel. Figure’s strategic direction is further guided by a board featuring prominent venture capitalists and blockchain advocates, including Dan Morehead of Pantera Capital, David Chao of DCM Ventures, and Dr. Jaitly of Morgan Creek Digital. The firm is backed by a blue-chip investor base that includes Ribbit Capital, RPM Ventures, and institutional heavyweights like Fidelity (Fmr LLC) and Vanguard, reinforcing its status as a leading institutional-grade bridge between traditional finance and decentralized infrastructure.