Co-founded by Cagney, the former SoFi CEO, Figure is eyeing early next year and a $2.5 billion public valuation for LendCo, according to documents viewed by Bloomberg.
A Figure spokesperson declined to comment to the news service.
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Figure Plans to Go Public, Lays Off 20% of Staff
Mike Cagney’s Figure Technologies has let go 90 employees, representing around 20% of its headcount, while at the same time, the company is planning to take its profitable LendCo lending division public. So reports Bloomberg.
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