Figure Technology Files for Nasdaq IPO with $400M Goal
- Figure Technology files for IPO on Nasdaq, aiming for $400 million.
- Co-founded by ex-SoFi CEO, Mike Cagney.
- Blockchain-backed originations grew 51% in 2024.
Figure Technology Solutions, a blockchain lender co-founded by former SoFi CEO Mike Cagney, has filed to go public on the Nasdaq under ticker FIGR.
The IPO aims to raise $400 million, reflecting Figure’s transition to profitability and expansion in home equity and digital loan markets.
Figure Technology Solutions has filed for a public offering on the Nasdaq, with plans to raise $400 million.
The event underscores growth potential for blockchain-driven financial services and draws attention to Figure’s profitability.
Figure Targets $400M Nasdaq IPO Amid 22% Revenue Rise
Figure Technology Solutions, co-founded by Mike Cagney, announced its plans for an IPO on Nasdaq, targeting $400 million. This move follows strong earnings and a 22% revenue increase in H1 2025. “While we haven’t issued a public blockchain token for equity, our marketplace integrates stablecoins for tokenized yield strategies,” Cagney remarked in a statement that highlights Figure’s innovative strategies within the blockchain space. source
Having originated $5 billion in HELOCs in 2024, Figure leverages its proprietary Provenance blockchain. This plays a key role in their innovative financial solutions and product areas.
Goldman Sachs, Jefferies Lead Figure’s IPO Effort
The IPO, led by Goldman Sachs, Jefferies, and Bank of America, signals confidence in blockchain’s role in financial technologies. Potential capital inflows total around $400 million.
Figure’s profitability turnaround highlights a case for blockchain lending. With net income at $29.1 million, compared to the previous $15.6 million loss, optimism prevails.
Expert Analysis on Figure’s Market Impact
Figure’s filing resembles Coinbase’s 2021 IPO event influencing crypto-assets’ volatility. Experts expect similar impacts on stablecoins and tokenized assets within the Figure ecosystem.
Historical data suggests heightened investor interest in blockchain financial entities. Expectations of rising stablecoin flows tied to Figure’s activities might further entice the market’s growth trajectory.
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