Takeaways by Saasverse AI
- Figure Technologies | IPO Expansion | $6.93 Billion Raise | Blockchain Fintech
- Price Range Increased to 20−20-20−22 per Share, Shares Issued Raised to 31.5 Million
- Driven by crypto market momentum, targeting a $41 Billion valuation with Nasdaq listing as "FIGR"
Figure Technologies, a blockchain-powered fintech company, has announced plans to expand the scale and pricing of its upcoming initial public offering (IPO). According to insiders, the company is raising its pricing range from $18-$20 per share to $20-$22 per share. Additionally, it will increase the number of shares issued from 26 million to 31.5 million. This adjustment is expected to boost Figure's IPO proceeds from $5.26 billion to approximately $6.93 billion, reflecting strong investor interest and favorable market conditions.
The IPO, set for this Thursday on Nasdaq under the ticker "FIGR," positions Figure Technologies for a $41 billion valuation. The decision to scale up the offering comes amidst heightened enthusiasm for blockchain-related equities, fueled by the successful market debuts of crypto exchange Bullish and stablecoin issuer Circle. Both companies' performances have underscored the growing confidence in blockchain-enabled financial solutions.
Founded in 2018 by tech entrepreneur Mike Cagney, Figure Technologies has built a blockchain-based platform specializing in loans, transactions, and investments in consumer credit and digital assets. The company stands out for its streamlined home equity loan approvals, achieving an average turnaround time of just 10 days compared to the industry norm of 42 days. This efficiency is powered by its proprietary blockchain technology, which optimizes lending and investment processes.
Figure Technologies has also demonstrated financial resilience, reporting a $29 million profit in the six months ending June 30, 2025, a significant turnaround from a $13 million loss during the same period the previous year. This profitability, coupled with its advanced blockchain platform, has positioned the company as a standout player in the rapidly growing fintech ecosystem.
“ Figure Technologies' IPO expansion is a testament to the surging demand for blockchain-driven financial solutions. By capitalizing on market momentum, the company not only strengthens its financial position but also sets a benchmark for fintech IPOs in this space," noted a Saasverse analyst. "Their focus on efficiency and profitability indicates a strong foundational business model that could reshape traditional lending and investment practices. ” Saasverse Analyst comments.
Saasverse Insights
This IPO signals a broader trend of blockchain's increasing integration into mainstream financial services. Companies like Figure Technologies are proving that blockchain’s utility goes beyond cryptocurrencies, offering real-world solutions to legacy inefficiencies in finance. As blockchain adoption grows, fintech players leveraging this technology are likely to see heightened investor interest and valuation premiums. However, with rising competition in this niche, Figure's ability to sustain innovation and maintain its operational edge will be critical to its long-term success in the public markets.