Blockchain Lender Figure Seeks Up to $4.13 B Valuation in US IPO

NEW YORK, Sept. 2 (Reuters) - Figure Technologies, a blockchain-based lending firm, on Tuesday filed to raise up to $526.3 million through an initial public offering, targeting a valuation of up to $4.13 billion.

The company and certain existing investors plan to offer 26.3 million shares, with pricing expected between $18 and $20 per share. Proceeds will support expansion of its blockchain-driven platform for consumer credit and digital-asset lending.

Figure reported a profit of $29 million for the six months ending June 30, compared with a $13 million loss a year earlier, reflecting stronger demand and operational efficiencies. The firm says its platform can approve home equity loans in 10 days, far outpacing the industry average of 42 days.

Underwriters for the deal include Goldman Sachs, Jefferies and Bank of America Securities. Figure plans to list on the Nasdaq under the ticker symbol “FIGR.” On the same day, fintech peers Klarna and cryptocurrency exchange Gemini kicked off their own IPO roadshows.