Blockchain firm Figure has raised $787.5 million in a U.S. initial public offering

On Wednesday, the blockchain-focused financial services company Figure raised $787.5 million in a ￰0￱ public ￰1￱ IPO valued the New York-based company at $5.29 billion from the sale of its ￰2￱ and some of its investors sold 31.5 million shares at $25 ￰3￱ figure was above the firm’s previously increased range of $20 to $22 per ￰4￱ connects lenders and buyers of home loans Thoughts on the Figure (FIGR) IPO: We see Figure as a rare IPO where the base case is a relatively clear double to $40 within 12 months, with further upside to $60–75 in 18–24 months as adoption and margins expand, all without relying on aggressive multiple expansion. As… — matthew sigel, recovering CFA (@matthew_sigel) September 9, 2025 On Tuesday, the financial services company also raised the number of shares offered from 26 million to 31.5 ￰5￱ will start trading on the Nasdaq from Thursday under the ticker symbol ‘FIGR’.

Underwriters, including Goldman Sachs, BofA Securities, and Jefferies, led the ￰6￱ IPO has also garnered interest from billionaire investor Stanley Druckenmiller, with his Duquesne Family Office revealing interests in buying up to $50 million worth of shares from Figure’s offering. “Blockchains can do more than disrupt existing ￰7￱ taking historically illiquid assets – such as loans – and putting these assets and their performance history on-chain, blockchain can bring liquidity to markets that have never had such.” -Kevin Cagney, Co-Founder and Executive Chairman of ￰8￱ to the IPO filing, Cagney will have majority voting control once the company gets ￰9￱ company’s chair said that the initial public offering is one step in a long process to bring blockchain to all aspects of capital ￰10￱ report revealed that Cagne’s dual-class share capability will let him remain in control of the company’s ￰11￱ also believes that the structure empowered the firm’s executive to keep the focus on a long-term track, but also raises questions about shareholder ￰12￱ company uses its blockchain technology to connect lenders and buyers of home ￰13￱ to the IPO report, Figure funds home equity debts in just 10 days, compared to the industry average of 42 ￰14￱ its founding, the firm has originated over $17 billion in home equity ￰15￱ blockchain-focused firm saw a 22.4% increase in revenue for the first half of 2025 to $191 ￰16￱ also garnered roughly $29 million in profits in the same period, up from a $13 million loss for the first six months of 2024 ending ￰17￱ company said its growth reflected the growing demand for blockchain-based lending and financial ￰18￱ company, founded in 2018 by ex-SoFi CEO Mike Cagney, enters the IPO fray as crypto firms are tapping public markets in the wake of digital assets gaining mainstream ￰19￱ pro-crypto Trump Administration has also seen a flurry of regulatory approvals, corporate treasury adoption, and inflows from exchange-traded funds, spurring listing from the ￰20￱ show interest in pricing IPOs 🚨 JUST IN: 🇺🇸 Nasdaq injects $50M into @Gemini ahead of its ￰21￱ rolls out XRP credit card + taps Ripple’s RLUSD for liquidity. $XRP ’s Wall Street moment is here. 🚀 ￰22￱ — John Squire (@TheCryptoSquire) September 9, 2025 Other companies, including Crypto exchange Gemini, transit tech Via, and coffee chain Black Rock Coffee, have also revealed interest in pricing their ￰23￱ now, pay later firm Klarna also revealed plans to launch an IPO to trade publicly this ￰24￱ issuer Circle also went public in June with an initial public offering of $1.2 ￰25￱ platform eToro and crypto exchange Bullish also entered the IPO fray earlier this ￰26￱ exchange Gemini raised its proposed price range for its IPO on Tuesday to above $3.08 ￰27￱ Winklevoss twins-backed crypto venture also aims to raise $433.3 million by selling 16.67 million shares priced between $24 and $26 ￰28￱ figure is up from its proposed range of $17 to $19 per ￰29￱ to a Reuters report, Gemini is lining up Nasdaq to purchase $50 million in shares in a private placement at the time of its public ￰30￱ vice president of IPO research firm, IPOX, said that lower interest rates reduce funding costs and support equity valuations, which drives higher IPO ￰31￱ founder Josef Schuster argued that the current wave of listings could shape how investors value blockchain companies going ￰32￱ believes that the digital asset industry is becoming one of the main pillars of the IPO ￰33￱ added that, in addition to IPOs, other companies are also pursuing de-SPAC mergers as a quicker route to access capital markets.

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