When Figure Technology Solutions announced the appointment of Macrina Kgil as its Chief Financial Officer in late 2024, it was more than just a senior hire. It marked a crucial inflection point for the blockchain-lending fintech: Figure was scaling fast, and it needed a financial steward with deep public markets experience, operational discipline, and strategic vision. Kgil brings exactly that — and her role is central to how Figure is navigating its post-IPO growth story.
A Proven Track Record in Fintech and Public Markets
Broad and relevant experience
Macrina Kgil isn’t new to the worlds of fintech, consumer credit, and blockchain. Before joining Figure, she led the global finance function at Flow, a residential real estate startup.
Her prior role as CFO of OneMain Holdings (formerly Springleaf Finance) is particularly relevant: there, she guided the company through its IPO and then steered its financial operations as a public filer.
She was also CFO at Blockchain.com, where she built robust finance infrastructure across complex, regulated entities.
Her early career included private equity (Fortress) and audit/advisory (PwC) roles.
She also holds an engineering degree from Seoul National University.
This blend of fintech, consumer-lending, blockchain, and public company expertise makes her uniquely qualified to lead Figure’s finance team at this critical growth stage.
Driving Record Growth Since Joining Figure
Strong Financial Metrics
Shortly after her joining, Figure’s leadership underscored just how strong the business had become: the company reported $1.5 billion in quarterly originations, 80% year-over-year revenue growth, and 150% growth in EBITDA.
These numbers underscore the scale and speed of Figure’s business expansion, especially in its lending marketplace, Figure Connect, and through its broader diversified product suite and embedded lending partnerships.
Post-IPO Performance
In its IPO filing, Figure disclosed that it made $190.6 million revenue in the first half of 2025, up strongly from a loss a year earlier.
During its Q3 2025 earnings (post-IPO), Kgil highlighted key financial metrics: total ecosystem volume reached nearly $2.5 billion for that quarter, with Figure Connect contributing almost half of the consumer loan marketplace volume.
Importantly, adjusted net revenue for the quarter was $156 million, up 42% YoY, and adjusted EBITDA was $86 million, representing a 55.4% margin, up more than 10 points YoY.
Kgil also noted that as Figure shifts more volume to partner-branded (Connect) originations — away from its own branded volume — its take rate (i.e., the gross margin per loan) is lower, but the adjusted EBITDA margin improves due to lower variable costs.
She further explained that operating efficiency is improving: fixed costs (like tech development and G&A) have remained stable relative to pre-IPO levels, indicating scalable operations. Variable costs, meanwhile, have declined as a percentage of adjusted net revenue (from ~36% to ~28%) due to automation, lower funding costs, and AI integration.
Strategic Vision: More Than Just Numbers
Capital-Light Marketplace Model
Kgil has emphasized a core strategic shift for Figure: moving toward a capital-light marketplace via Figure Connect. Instead of Figure retaining all the risk on its balance sheet, more volume is being originated through partner-branded channels, reducing balance-sheet exposure while scaling reach.
Blockchain as Infrastructure
Under her financial leadership, Figure is not just a lending fintech — it’s a blockchain-native capital markets infrastructure company. Figure’s marketplace, built on its own Provenance Blockchain, enables tokenization and trading of real-world assets (like home equity loans).
This infrastructure is increasingly core to its strategy, as evidenced by securitization deals (e.g., FIGR 2025–HE3) and scaled trading activity.
Kgil’s background in blockchain finance (from Blockchain.com) uniquely positions her to navigate this intersection of traditional finance + DeFi-style capital markets.
Public Markets Discipline
Given her prior IPO experience (OneMain) and deep public-company finance work, Kgil brings credibility with investors. Her stewardship is likely to boost investor confidence in Figure’s path as a newly public company.
Michael Tannenbaum, Figure’s CEO, called her financial stewardship “pivotal” for the company’s growth ambitions.
Why Kgil’s Role Is Critical for Figure’s Next Phase
Scaling Profitably: It’s not just about growing volume, but improving profitability — and Kgil’s financial acumen is helping Figure do just that by balancing growth with cost discipline.
Managing Risk: As more volume shifts to partner-branded originations, Kgil’s strategy helps reduce balance-sheet risk, which is especially important for a blockchain-lending firm.
Investor Relations & Market Trust: With her IPO and public-company experience, she can capably manage investor expectations, reporting, and governance — all crucial for a newly public fintech.
Bridging Web2 and Web3 Finance: Her blockchain finance experience gives her a rare ability to lead at the intersection where traditional lending meets tokenized, on-chain capital markets.
Operational Efficiency: Her commitment to automation, AI, and scalable cost structure paves the way for sustainable long-term growth, not just short-term scaling.
Conclusion
Macrina Kgil’s appointment as CFO is not just a headline: it’s a strategic linchpin in Figure’s high-growth, post-IPO trajectory. With her proven fintech and public markets experience, deep understanding of blockchain infrastructure, and operational rigor, she is helping Figure scale fast, lean, and responsibly.
Figure isn’t merely betting on increased originations. Under Kgil’s financial leadership, it’s also building a more liquid, efficient, and future-ready capital markets platform — one that could redefine how real-world assets like home equity are originated, tokenized, and traded.
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