Figure IPO Targets $526 Million Amid Blockchain Finance Expansion and Investor Interest

Blockchain-powered lending platform, Figure Technology Solutions, announced its initial public offering (IPO) terms recently as it seeks to raise $526 million, leveraging the growing momentum in crypto-related public listings. Figure aims to sell 21.5 million shares priced between $18 and $20 each. Of these, 4.9 million shares are expected to be offered by existing holders. If priced at the upper end, the IPO will value Figure at approximately $4.3 billion.

Initially founded in 2018, Figure's transition from predominantly consumer lending to blockchain infrastructure has captured investor interest. The company's focus on blockchain-driven financial products built on the Provenance Blockchain positions it uniquely at the convergence of traditional finance and decentralized systems. The company originally gained recognition through its digitized home equity line of credit solution for homeowners in the U.S., which streamlined and simplified the borrowing process.

Figure has since diversified into a vertically integrated suite of blockchain-based solutions that support various financial marketplaces. These include lending, trading, and investing in digital assets, all while maintaining a foothold in the home equity line of credit market. This strategic expansion into blockchain finance enhances its value proposition by offering more transparent, cost-effective financial solutions.

The firm's filing with the Securities and Exchange Commission reflects an increasing IPO momentum, with a targeted pricing date around September 10. A significant interest from Duquesne Family Office, which intends to purchase $50 million worth of stock, attests to Figure's growing appeal among influential investors. Other prominent participants in its IPO include Goldman Sachs, Jefferies, BofA Securities, Societe Generale, Keefe Bruyette Woods, and Mizuho Securities, who are jointly handling the book-running process.

Figure's expansion into blockchain finance and the substantial revenues it reported reinforce its positioning as a notable entity within the fintech space. For the first half of 2025, Figure recorded revenues of $191 million, showcasing financial momentum in the lead-up to its public debut. Even as it draws nearer to its Nasdaq listing under the symbol FIGR, the company's valuation has appreciated markedly from its 2021 Series D funding round, which saw a $200 million investment led by 10T Holdings and valued the company at $3.2 billion.

The company's trajectory comes at a point when the broader crypto IPO market is experiencing a resurgence, characterized by increased public market interest in blockchain and digital asset companies. Figure's IPO plan parallels actions by fellow crypto entities such as Gemini, which aims to raise $317 million, further accentuating the wave of crypto listings emerging as market dynamics favor public offerings.

As the sector continues to evolve, Figure remains at the forefront with its offerings that capitalize on the blockchain infrastructure to disrupt traditional finance. The company's ability to attract investment and command a strong market valuation underscores its potential to deliver innovative, financial solutions in an increasingly digital economy. The outcome of its IPO will be closely monitored by industry stakeholders who are keenly interested in the successes of blockchain-backed initiatives in the public financial markets.