It has "confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC"), relating to the proposed initial public offering of its equity securities," the company announced on Wednesday. This form is required for registering companies that want to be listed on a national exchange.

Thus far, no determination has been made regarding the number of shares to be offered and the price range for the proposed offering. The offering is subject to market conditions as well as the completion of the SEC's review process, the company said.

Figure declined to provide additional information regarding the IPO.

Figure Technologies announced it was shifting its lending arm under a stand-alone company, which would function independently just one week ago.

Companies tapped to take FTS public include Goldman Sachs Group Inc., JPMorgan Chase & Co. and Jefferies Financial Group Inc, a Bloomberg report pointed out. Valuation of the company will likely range between $2 billion to $3 billion.

Transitioning its lending division under FTS is a reflection of  "growth and vision for Figure's technology-enabled lending platform that has been built to reshape the industry, starting with HELOCs," the company previously said.

Figure has concentrated its efforts on growing market share in the home-equity line of credit space. Last year, it launched a HELOC wholesale loan production platform. The company also entered into partnerships with independent mortgage bankers to provide a private-label HELOC product.

"By creating a dedicated business, FTS will focus its resources on the continued success of its technology platform, delivering cutting-edge solutions to drive efficiency across the lending ecosystem," said Mike Cagney, co-founder and CEO of Figure Technology Solutions, in a press release March 18.