Expanded Operations to Bring 240 Jobs
RENO, Nev. (December 17, 2018) – The Economic Development Authority of Western Nevada (EDAWN) announced today that Figure Technologies, a financial technology company leveraging blockchain, AI and analytics to deliver products to improve the financial lives of their customers, is expanding operations to Reno, Nevada. The new office is already home to 17 full-time employees supporting Figure’s business across the US. Key factors in Figure’s decision to expand to Reno were the talent pool and logistical advantages offered by the region, along with the opportunity to invest in the region’s academic and start up communities. The company plans to hire 240 employees in a wide range of roles over the next several years, with an average hourly wage of $40 and access to benefits such as health care, Flexible Spending Accounts and a 401(k) program.
Figure was co-founded in 2018 by Mike Cagney, the founder and former CEO of SoFi, along with Alana Ackerson, Cynthia Chen, June Ou, and Sara Priola.
“We’re creating products and educational tools to help consumers simplify and improve their financial well-being. With rising interest rates, cash-out refinancing, personal loans, and credit cards are increasingly painful ways to meet cash flow needs. For many, home equity may be the most important source of money they have to support their financial needs throughout their careers and into retirement,” said Wendy Harrington, Figure CMO. “By unlocking hard-earned equity with Figure Home Equity Loan PLUS or Figure Home Advantage, homeowners can achieve their goals with additional funds and less stress.” Figure has already launched both of its products in Nevada.
“Welcoming Figure to Reno is yet another win for the entire region,” said Reno Mayor Hillary Schieve. “The Silver Rush of the past has become the Silicon and Server Rush of the next decade and beyond. Reno’s blend of lifestyle, progressive values and a business-friendly environment give companies like Figure a future of success.”
“We are thrilled Figure has selected Reno to expand their operations,” said Mike Kazmierski, President & CEO of EDAWN. “As a state, we’re one of the leaders in attracting and welcoming blockchain technology. Figure is a great win for our community and we expect to continue to see the emergence of blockchain companies selecting Reno as their home.”
About Figure Technologies, Inc:
Figure Technologies, Inc. (Figure™) creates innovative consumer financial solutions for home improvement, debt consolidation, and retirement while providing financial literacy and financial empowerment. Its mission is to build and promote innovative financial products on blockchain that benefit consumers and eliminate rent-seeking, illiquidity, and other inefficiencies present in current financial markets. The company’s flagship product, the Figure Home Equity Loan PLUS, utilizes the blockchain protocol Figure created, Provenance™. Headquartered in San Francisco, Figure was co-founded by Mike Cagney, former co-founder and CEO of SoFi, along with Alana Ackerson, Cynthia Chen, June Ou, and Sara Priola. For more information about Figure and its offerings, visit www.Figure.com.
Figure Technologies CMO
The Economic Development Authority of Western Nevada is a private/public partnership established in 1983. They are committed to adding quality jobs to the region by recruiting new companies, supporting the success of existing companies, and assisting newly forming companies, to diversify the economy and have a positive impact on the quality of life in Greater Reno-Sparks. For more information, www.edawn.org.
Economic Development Authority of Western Nevada
Program Manager, Business Development