Michael Tannenbaum has been appointed as the new chief executive officer of Figure Technology Solutions Inc. in preparation for the company’s potential initial public offering. Tannenbaum, who was previously the chief operating officer of Brex Inc., will take over from co-founder Mike Cagney. The two first met at SoFi Technologies Inc., where Cagney was CEO and Tannenbaum served as chief revenue officer.
In his new role, Tannenbaum will lead Figure, a financial-services firm that specializes in lending products utilizing blockchain technology. Cagney will transition to the role of executive chairman at Figure to support Tannenbaum in his new position.
Tannenbaum’s appointment comes at a crucial time for Figure, as the company experiences growth and prepares for a potential initial public offering. His experience in the financial technology sector will be instrumental in leading Figure through this period of expansion. The company looks forward to Tannenbaum’s leadership during this exciting time in its development.
As part of his new position, Tannenbaum will focus on driving growth and expanding Figure’s product offerings while ensuring that they remain compliant with regulatory requirements. He will also work closely with the board of directors to develop a long-term strategy for the company.
Tannenbaum brings a wealth of experience to his new role, having worked in various senior management positions throughout his career. Prior to joining Brex Inc., he served as president and CEO of Global Payments Integrated, where he grew revenue by more than 30% within two years.
Figure Technology Solutions Inc.’s co-founder, Mike Cagney, is excited about Tannenbaum’s appointment and believes that he will be an excellent fit for the company’s growth stage.
“Michael has an impressive track record of driving growth and innovation in the financial technology sector,” said Cagney. “We believe he will bring valuable insights and leadership skills to Figure as we continue our journey towards becoming a major player in the financial services industry.”