Early Life and Career
Michael Cagney was born in Trenton, New Jersey, and spent his formative years in various locations, including Philadelphia, Detroit, and Southern California. He received a degree in applied economics from the University of California, Santa Cruz. Cagney's career began at Wells Fargo in 1994 as an analyst. He then moved into the financial products group, managing derivative trading and proprietary trading. In 2000, he left Wells Fargo to start Finaplex, a wealth management software company that was later acquired by Broadridge Financial Solutions.
Rise to Success with SoFi
In 2011, Cagney co-founded SoFi (Social Finance), a fintech company that aimed to provide student loan refinancing and other financial services. Under his leadership as CEO, SoFi raised significant funding, including a major round led by SoftBank Group in 2015. SoFi expanded to offer mortgages, personal loans, and wealth management services, reaching a valuation of over $4 billion by 2017. However, Cagney stepped down from SoFi in September 2017 amidst workplace controversies.
Key Business Strategies with Figure Technology Solutions
In 2018, Cagney, along with his wife June Ou, co-founded Figure Technology Solutions. Figure leverages blockchain technology for financial services, focusing on home equity lines of credit (HELOCs), mortgage refinancing, and asset management. Figure went public in September 2025 and is listed on the Nasdaq under the ticker symbol FIGR. Cagney served as CEO until 2024 and currently holds the position of executive chairman. The company has raised over $435 million in funding.
Philanthropy
No specific philanthropy amounts were found for Michael Cagney, but he is the co-founder of Figure Technology Solutions and is involved in financial services.
