Figure Technology Raises $787.5M in Oversubscribed IPO, Valued at $5.3B.

Figure Technology has raised $787.5 million in its IPO, with a valuation of $5.3 billion. The company operates a blockchain-native platform for lending, trading, and investing in consumer credit and digital assets. Founded in 2018, Figure initially offered home equity lending and plans to diversify into a broader range of credit products and develop marketplaces for digital assets and stablecoins. The company posted a profit of $29 million for the six months ended June 30, compared with a loss of $13 million during the same period last year.

Figure Technology Solutions, a blockchain-native lending company led by SoFi co-founder Mike Cagney, has successfully raised $787.5 million through its initial public offering (IPO) Figure sets IPO Price at $25 per share, Pre-listing Valuation Surpasses $5 Billion^[1]. The company priced its IPO at $25 per share, surpassing the previously disclosed range of $20 to $22 per share Figure sets IPO Price at $25 per share, Pre-listing Valuation Surpasses $5 Billion^[1]. This pricing resulted in a total valuation of $5.3 billion for Figure Technology, an increase from its previous valuation of $4.7 billion Figure sets IPO Price at $25 per share, Pre-listing Valuation Surpasses $5 Billion^[1].

The IPO involved the issuance of 31.5 million shares of Class A common stock, with a total of approximately 211.7 million shares of Class A and Class B common stock outstanding after the offering, excluding the underwriters' over-allotment option Figure sets IPO Price at $25 per share, Pre-listing Valuation Surpasses $5 Billion^[1]. The company plans to use the proceeds to fund its expansion into a broader range of credit products and the development of marketplaces for digital assets and stablecoins Figure sets IPO Price at $25 per share, Pre-listing Valuation Surpasses $5 Billion^[1].

Figure Technology was founded in 2018 and initially focused on home equity lending. The company reported a profit of $29 million for the six months ended June 30, 2025, compared to a loss of $13 million during the same period in 2024 Figure sets IPO Price at $25 per share, Pre-listing Valuation Surpasses $5 Billion^[1]. This turnaround reflects the company's strategic shift and growth in the blockchain-native lending sector.

The successful IPO underscores the growing interest and investment in blockchain technology and its applications in the financial services industry. Figure Technology's ability to raise such a significant amount in its IPO indicates strong market confidence in its business model and growth prospects.

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