Blockchain Lender Figure Technologies Seeks $4.13 Billion Valuation in U.S. IPO

NEW YORK, Sept 2 (Reuters) - Figure Technologies, a blockchain-native consumer lending platform, today announced terms for its initial public offering, targeting a valuation of up to $4.13 billion. The company plans to sell 26.3 million shares at an expected price range of $18 to $20 per share, aiming to raise up to $526.3 million in gross proceeds.

Renewed regulatory clarity and a surge of institutional inflows into crypto-focused exchange-traded funds have emboldened digital-asset firms to pursue public listings. Figure’s decision follows successful debuts by the crypto exchange Bullish and stablecoin issuer Circle, reflecting revived investor appetite for blockchain-related offerings.

Co-founded in 2018 by technology entrepreneur Mike Cagney, Figure operates a vertically integrated suite of blockchain-based solutions for lending, trading and investing in consumer credit and digital assets. The platform’s flagship product-a home equity line of credit (HELOC)-can be funded in roughly 10 days, compared with the industry average of 42 days.

Financially, Figure swung to a net profit of $29 million for the six months ended June 30, 2025, compared with a loss of $13 million in the same period a year earlier. The offering will be led by Goldman Sachs, Jefferies and Bank of America Securities, with Figure planning to list on the Nasdaq under the ticker “FIGR”.

Industry analysts expect the IPO to price during the week of September 8, positioning Figure as one of the largest blockchain-focused public listings of 2025. With institutional investor interest growing in the digital-asset sector, Figure’s successful market debut could pave the way for additional crypto-native companies to access public capital in the coming months.