Financial Services Company FT Intermediate Files for IPO

By Stephen Nakrosis

FT Intermediate, which uses blockchain technology to provide lending, trading and investing activities in areas such as consumer credit and digital assets, filed for an initial public offering on Monday with the U.S. Securities and Exchange Commission.

The company, which will change its name to Figure Technology Solutions, reported revenue of $190.5 million for the six months ended June 30. In the prior year period, the company said it had revenue of $156 million.

Michael Tannenbaum, the company's chief executive officer, previously served as an executive at technology and financial services company Brex. Tannenbaum also held roles at SoFi Technologies, including as Chief Revenue Officer, FT said.

The company will have two classes of common stock, with Class A shares entitled to one vote, while Class B shares will entitled to 10 votes.

FT didn't give an expected size or an anticipated price range for its IPO.

The company said it applied to list its Class A stock on the Nasdaq Stock Market under the symbol FIGR.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com