Takeaways by Saasverse AI
- Figure Technologies | IPO | $526 Million Target Valuation | Blockchain Fintech.
- Led by Goldman Sachs, Jefferies, and Bank of America Securities as underwriters.
- Aims to revolutionize traditional lending markets by enhancing liquidity via blockchain technology, with $16 billion HELOCs processed to date.
Figure Technologies, a blockchain-powered fintech company founded in 2018 by SoFi co-founder Mike Cagney, is preparing for its Nasdaq debut under the ticker "FIGR." The company and its selling shareholders aim to raise up to $526 million through an initial public offering (IPO), with shares priced in the range of $18 to $20. The offering will comprise 21.46 million new shares along with 4.85 million shares from existing stakeholders.
According to Figure’s IPO filing, the company has shown impressive financial growth, reporting $191 million in revenue for the first half of 2025, a 22.4% year-over-year increase. Even more notable is its sharp turnaround from a $13 million loss in 2024 to a $29 million net profit over the same period this year. These metrics not only underline Figure’s operational efficiency but also bolster its appeal to institutional and retail investors alike.
Figure has established itself as a pioneer in applying blockchain technology to traditionally illiquid financial assets. Leveraging its proprietary platform, the company has already facilitated over $16 billion in home equity line of credit (HELOCs) transactions. By tokenizing these loans, Figure aims to create a more liquid and transparent ecosystem for traditionally static financial products. This innovative approach positions the company at the intersection of fintech and decentralized finance (DeFi), making it a key player in modernizing capital markets.
“Saasverse analysts view Figure’s IPO as a bellwether for fintech’s integration with blockchain technology in public markets,” remarked a Saasverse Expert. “The company’s ability to scale profitably while driving innovation in asset liquidity could set a precedent for other blockchain startups eyeing public listings.”
Figure’s IPO comes amid renewed optimism in the IPO market, fueled by the recent listing successes of high-profile companies. On the same day, Klarna and Gemini, two other major fintech players, also commenced roadshows for their respective market entries. This signals a broader revival in capital markets, particularly for tech and fintech firms, after a prolonged period of IPO stagnation.
From a strategic standpoint, Figure’s public listing could accelerate adoption of blockchain-enabled financial services across the industry. As financial institutions increasingly explore tokenization to improve liquidity and reduce friction, Figure’s success could pave the way for a wave of blockchain-driven innovation in lending, asset management, and beyond. However, competitive pressures from both fintech incumbents and emerging DeFi platforms remain a key risk factor.
Saasverse Insights
The integration of blockchain technology into traditional financial services represents one of the most transformative trends in fintech today. Figure’s IPO will serve as a critical litmus test for the market’s appetite for blockchain-powered finance. If successful, the deal could catalyze further investments into blockchain infrastructure, opening up new opportunities for SaaS and cloud providers to support these ecosystems.