Figure Technology Solutions, a firm specializing in blockchain-driven lending services, has announced the terms of its upcoming initial public offering (IPO). The company intends to list its shares on the Nasdaq stock exchange under the ticker symbol “FIGR.” The IPO aims to generate $500 million through the sale of 26.3 million shares, with an anticipated price ranging from $18 to $20 per share. Should the shares be priced at the midpoint of this range, Figure’s estimated market valuation after the IPO would be approximately $4.5 billion, exceeding the $4 billion target initially set in its listing strategy [1].
Established in 2018, Figure’s core operation revolves around a platform leveraging blockchain technology to streamline lending, trading, and investment activities. The company has heavily invested in developing its infrastructure to serve the home equity line of credit (HELOC) sector, where it has carved out a unique market position. Figure directly originates loans to borrowers and provides white-label solutions, allowing mortgage originators, servicers, banks, and credit unions to integrate Figure’s technology into their own loan origination and distribution processes [1].
Details from the IPO filing indicate that 18% of the offered shares are secondary shares, meaning they will be sold by existing shareholders, not the company. Specifically, current shareholders plan to sell 4.85 million of the 26.3 million shares offered. Figure Technology Solutions will not receive any proceeds from the sale of these secondary shares. Additionally, underwriters have a 30-day option to purchase an additional 3.95 million shares, potentially increasing the total offering size beyond the initial $500 million goal [2].
Goldman Sachs, Jefferies, BofA Securities, Societe Generale, Keefe Bruyette Woods, and Mizuho Securities are serving as the joint bookrunners for the offering, with pricing anticipated during the week of September 8, 2025. Figure reported sales of $375 million for the twelve-month period ending June 30, 2025, reflecting substantial growth and expansion within its business operations [1].
Figure’s decision to go public coincides with a revitalized IPO market, especially within the financial technology (fintech) and technology sectors. The company’s foundation in blockchain and concentration on consumer credit place it at the center of financial services and digital innovation, both areas experiencing heightened investor attention recently [1]. While the IPO market can be unpredictable, the current environment appears more supportive, with numerous prominent fintech companies preparing for or already initiating their public offerings [3].
The IPO marks a key achievement for Figure Technology Solutions, which has experienced significant growth since its inception and now has a global presence. The firm’s capability to merge blockchain technology with conventional lending practices has facilitated entry into new markets, all while maintaining an emphasis on technological progress and the ability to scale operations. As Figure proceeds with its public listing, it will face increased examination from investors, financial analysts, and regulatory bodies, all closely monitoring the company’s performance in the public domain.
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[1] Blockchain-powered lending platform Figure Technology sets terms for $500 million IPO (https://www.renaissancecapital.com/IPO-Center/News/113150/Blockchain-powered-lending-platform-Figure-Technology-sets-terms-for-$500-m)
[2] Figure Technology Solutions plans to issue 26315789 Class A common shares (https://www.bitget.site/news/detail/12560604946401)
[3] The IPO Market Is Opening Up. These 14 Companies Could Be Next (https://news.crunchbase.com/public/ipo/public-market-opening-predictive-intelligence-ai-2025-forecast/)