Figure Taps Goldman, JPMorgan and Jefferies for IPO

Figure Technologies Inc., the financial technology firm co-founded by former SoFi Technologies Inc. head Mike Cagney, is working with banks including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Jefferies Financial Group Inc. on an initial public offering for its lending arm, according to people familiar with the matter.

Figure is considering taking public its so-called LendCo division in the first half of 2024 at a valuation of $2 billion to $3 billion, said the people, who asked to not be identified because the matter isn’t public. Figure could file imminently for an IPO of the division, which is also a private capital markets business, the people added.