Figure Technology Solutions, a well-known cryptocurrency lender, has officially filed for an initial public offering (IPO) on the Nasdaq exchange. The application was submitted to the U.S. Securities and Exchange Commission on August 18, 2025, and the company’s future stock ticker will be FIGR.
This is reported by Finway
Financial Results and Company Development
Over the past six months, Figure reported a net profit of $29.1 million, with revenue of $190.6 million. In comparison, during the same period last year, the company incurred a loss of $15.6 million on revenue of $156 million. As of 2021, the company’s estimated market value is $3.2 billion.
The company was founded in 2018 by Mike Cagney, one of the co-founders of SoFi Technologies. Initially, Figure specialized in real estate-backed lending, and later introduced cryptocurrency-secured loans, expanding its range of financial services. Additionally, the company launched its own digital asset exchange – Figure Markets.
Strategy, Shareholders, and Technologies
In 2024, Michael Tannenbaum, a well-known entrepreneur and investor, became the company’s CEO. Since its inception, Figure has financed over $16 billion in loans. The average FICO score for HELOC loans in 2024 was 753, while for the company’s other products, it was 740 points.
To assess credit applications, the company actively utilizes advanced artificial intelligence technologies, including OpenAI and Google Gemini chatbots. Figure’s investors include influential funds such as Apollo Global Management, 10T Holdings, Ribbit Capital, and others.
“We see that blockchain can be used for all asset classes. Just as there is a ‘fantastic seven’ of stocks in the Web2 space today, I believe a comparable set of companies representing blockchain technology will emerge in the Web3 sector. Our IPO brings us closer to leadership in this group,” stated Figure.
The IPO is being organized by major financial institutions: Goldman Sachs, Jefferies, and Bank of America. According to preliminary plans, the company aims to raise between $5 billion and $10 billion through the stock offering. It is known that Figure has already held discussions with potential investors such as BlackRock, SoftBank, and Tiger Global.
Earlier, it was reported that the SEC approved the interest-bearing stablecoin YLDS from Figure Markets, further highlighting the company’s active expansion in the digital finance sector.