April 23, 2024 · Figure Technology Solutions names Michael Tannenbaum Chief Executive Officer

Figure Names Michael Tannenbaum Chief Executive Officer

Figure Technology Solutions hired Brex and SoFi veteran Michael Tannenbaum as CEO on April 23, 2024, moving founder Mike Cagney into the role of executive chair as the HELOC lender pursued a public listing.

Correction, Oct. 15, 2026: This piece said Figure sold 31.5 million shares and raised $787 million in its IPO, as PYMNTS reported. Figure's Sept. 12, 2025 filing shows the company itself sold 28.2 million shares for $705.8 million; existing stockholders sold another 8.0 million, and that money went to them. The piece now gives both. It also described the filing's language as being about lending infrastructure; the filing said it of the infrastructure supporting capital markets.