Blockchain lending platform Figure adjusts its US stock IPO fundraising scale up by 32%, aiming to raise USD 662 million
Blockchain lending platform Figure Technology Solutions on Tuesday raised the proposed fundraising scale of its initial public offering (IPO), planning to raise $662 million by issuing 31.5 million shares at a price range of $20 to $22 per share. New investor the Duken Family Office plans to subscribe for $50 million worth of shares. Figure holds the top position in the home equity line of credit market, with a transaction scale of $5 billion and revenue of $375 million in 2024. The company plans to list on NASDAQ under the ticker symbol "FIGR"
According to Zhitong Finance APP, blockchain consumer lending platform operator Figure Technology Solutions (FIGR.US) raised its proposed fundraising scale for its initial public offering (IPO) on Tuesday. The New York-based company now plans to raise $662 million by issuing 31.5 million shares (of which 15% are secondary offering shares), with a price range set at $20 to $22 per share. Previously, the company's IPO filing indicated a plan to issue 26.3 million shares, with a price range of $18 to $20 per share.
New investor Duquesne Family Office plans to subscribe for $50 million worth of shares in this offering, accounting for 8% of the total fundraising amount. Based on the midpoint of the adjusted price range, Figure's fundraising amount will be 32% higher than previously expected.
Figure has built a vertically integrated blockchain solution system to provide technical support for its various market businesses, covering lending, trading, and investment activities in areas such as consumer credit and digital assets. The core foundation of its differentiated infrastructure is established in the home equity line of credit (HELOC) market.
The company not only directly issues loans to borrowers but also has developed a "co-branding strategy"—mortgage issuance institutions, loan servicers, banks, wholesale brokers, and credit unions can leverage Figure's technology platform to conduct their own loan issuance and distribution business. In 2024, the transaction volume of home equity lines of credit facilitated by Figure reached $5 billion, a year-on-year increase of 51%, claiming the top market share in the non-bank home equity line of credit lending market that year.
Figure was founded in 2018, and for the 12 months ending June 30, 2025, the company's revenue was $375 million. The company plans to list on the Nasdaq Stock Exchange under the ticker symbol "FIGR." Goldman Sachs, Jefferies, Bank of America Securities, Société Générale, Keefe Bruyette Woods, and Mizuho Securities are serving as co-bookrunners for the IPO. The company is expected to determine the final IPO price during the week of September 8, 2025
