Mike Cagney Companies: The Full List — From SoFi to Figure to The Wallet Co

Quick answer

Mike Cagney has founded or co-founded seven companies across three decades — and taken two of them public. The current empire centers on Figure Technology Solutions (Nasdaq: FIGR), the blockchain lender he co-founded in 2018 and now runs as executive chairman with ~72.9% voting control. Around it orbit Figure Markets (the crypto exchange arm, recombined in 2025), the Provenance Blockchain (the Layer 1 infrastructure beneath it all), and his newest venture, The Wallet Co (launched August 2026).

The earlier chapters — SoFi (co-founder/CEO, 2011–2017), Finaplex (sold to Broadridge, 2007), and the Cabezon hedge fund — built the wealth and network that funded the Figure bet. Two public companies with a combined peak value near $45 billion trace back to one founder. Here's the full map. For the fortune math, see his $1.9B net worth breakdown.

Figure Technology Solutions — the crown jewel (2018–present)

Role: co-founder; CEO 2018–2025; executive chairman 2025–present. Figure is the company that made Cagney a billionaire, and it remains his primary asset: ~53.7 million shares, ~$1.5 billion at October 2026 prices, majority voting control. Founded in 2018 with his wife June Ou (SoFi's former CTO, Figure's COO) plus Alana Ackerson and Cynthia Chen, Figure is a blockchain-native capital marketplace connecting loan origination, funding, and secondary-market activity.

The business: HELOCs, DSCR loans, cash-out refinance, and crypto-backed loans — all originated, funded, and securitized on the Provenance Blockchain, cutting funding times from the industry's 42-day average to ~10 days. The numbers: over $16 billion in blockchain-based loans funded, 2024 revenue of $340.9 million (+63%) with a $19.9 million profit, H1 2025 revenue of $190.6 million, and a September 2025 IPO at $25 that raised $787.5 million at a $5.29 billion valuation. Lead underwriters: Goldman Sachs, Jefferies, and BofA. For how he got here, see how Cagney made his money.

Figure Markets — the crypto arm (2024–present)

Role: co-founder; CEO of the spun-off entity 2024–2025. In 2024, Cagney carved Figure's crypto operations into a separate company, Figure Markets, taking the CEO role himself while installing Michael Tannenbaum as CEO of the original Figure. The stated reason: "to try to navigate this regulatory morass and get public." Figure Markets launched the YLDS yield-bearing stablecoin (early 2025), the Democratized Prime DeFi lending protocol, and the Forge marketplace for standardized tokenized loan pools.

In 2025, with the regulatory landscape shifting and public markets reopening, the two entities recombined ahead of the IPO — Tannenbaum as CEO of the whole operation, Cagney as executive chairman. The recombination consolidated the YLDS stablecoin, the exchange, and the lending marketplace under one listed roof, which is the structure public investors bought in September 2025.

Provenance Blockchain — the infrastructure play

Role: co-founder / founding team member. If Figure is the application, Provenance is the operating system. It's a public proof-of-stake Layer 1 blockchain designed specifically for financial services — and by 2025 it had become the largest public blockchain by real-world assets, with $41 billion-plus in RWA transactions facilitated and $13 billion-plus in total value locked on-chain.

Everything Cagney builds now runs on Provenance: Figure's HELOCs, the YLDS stablecoin, Democratized Prime, Forge — and 2026's OPEN (On-Chain Public Equity Network), which aims to make Figure's own Nasdaq-listed shares interchangeable with blockchain-registered equity. Provenance doesn't show up as a line item in the Bloomberg net-worth estimate, but strategically it's the moat: competitors can copy a lending product, but not a decade of on-chain financial infrastructure with $41 billion of history.

SoFi — the first fintech rocket (2011–2017)

Role: co-founder, CEO, and chairman. Born from a Stanford GSB class project with four classmates, Social Finance (SoFi) started as a $2 million alumni-funded student-loan pilot and became one of the world's fastest-growing fintechs: $200 million in loans by 2013, a then-record $1 billion round led by SoftBank in 2015, a $4 billion-plus valuation and $20 billion-plus in funded loans by 2017. Cagney resigned in September 2017 amid workplace misconduct controversies; Anthony Noto took over as CEO in March 2018 and led SoFi's 2021 SPAC listing.

SoFi's stadium naming-rights deal — SoFi Stadium in Inglewood, one of the most expensive venues ever built — keeps Cagney's first company's name in front of 70,000 fans weekly. Bloomberg assumes he sold his SoFi stake after departing, so SoFi is wealth history for him, not current holdings. The founder-vs-successor scorecard: Cagney vs. Anthony Noto.

Finaplex and Cabezon — the foundation (2000–2010)

Finaplex (co-founder, CEO → vice chairman/chief architect, 2000–2007): wealth-management software for major financial institutions; raised $39 million-plus in venture funding; acquired by Broadridge Financial Solutions in 2007. A solid first exit — founder wealth, not billionaire wealth.

Cabezon Investment Group (co-founder, managing member): a global macro hedge fund managing family-office money. Less public by design, but it sharpened Cagney's markets instincts and built the investor relationships behind SoFi's and Figure's venture rounds. Before all of it: Wells Fargo (1994–2000), where he rose to SVP and head trader of the proprietary trading and financial products group — the Bloomberg-terminal years that started everything.

The Wallet Co — the next bet (2026–present)

Role: co-founder and CEO (August 2026–present). Even as executive chairman of a public company, Cagney is still founding. The Wallet Co is a mobile app meant to combine modern fintech usability with self-custody and blockchain-native products, built by members of the teams that founded SoFi and Figure. Planned features: yield-generating cash, real-world-asset yield, securities-linked prediction markets, and an embedded AI agent. It's early-stage with no public valuation — but it's the clearest signal of where Cagney thinks the next $100 billion opportunity is: consumer crypto that feels like fintech.

He's also non-executive chairman of ReFlow, a smaller role that rounds out the portfolio. For what all of this pays him, see Cagney's salary and compensation.

The empire at a glance

Two public companies, one blockchain that underpins a $41 billion asset network, and a combined peak value near $45 billion across the SoFi and Figure franchises. The pattern never changed: find the middleman, remove him with technology, and own the rails. Wells Fargo taught him the game; Finaplex and Cabezon funded the tuition; SoFi proved the model; Figure is the empire. The Wallet Co is the next chapter — and if history is any guide, it won't be the last. From a $2 million Stanford pilot to a $45 billion two-company franchise, the through-line has never wavered: technology, not banks, should move the money.

Frequently asked questions