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Figure hires banks for lending arm IPO: Bloomberg

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo, hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. 

People familiar with the transaction told Bloomberg that Figure is working with Goldman Sachs Group Inc.JP Morgan Chase & Co. and Jefferies Financial Group Inc. for the IPO. Figure and the banks declined to comment. 

The company’s lending arm, valued between $2 billion and $3 billion, is expected to go public in the first half of 2024. However, the report states there’s no final decision on the timing and valuation. Figure details ⇒

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