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Home News Crypto

Blockchain-Backed Lender Figure, Backers Raise $787.5 Million in IPO

by Team Lumida
September 11, 2025
in Crypto
Reading Time: 3 mins read
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Bitcoin Mining Stocks Outperform BTC in Early 2025, Network Strength Grows

"Bitcoin statistic coin ANTANA" by antanacoins is licensed under CC BY-SA 2.0

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Key Takeaways

Powered by lumidawealth.com

  • Figure Technology Solutions Inc. raised $787.5 million in its IPO, pricing shares at $25 each, above the marketed range.
  • The IPO values Figure at approximately $5.3 billion based on outstanding shares.
  • The company sold 31.5 million shares, including offerings from selling shareholders like Ribbit Capital.
  • Figure, co-founded in 2018 by Mike Cagney (ex-CEO of SoFi), develops blockchain technology for loans and digital asset exchange.
  • It has funded over $16 billion in blockchain-based loans, including home equity lines of credit (HELOC) and crypto-backed loans.
  • Figure reported net income of $29.1 million on $190.6 million revenue for the six months ending June 30, reversing a net loss from the prior year.
  • The company uses AI technologies from OpenAI and Google Gemini to evaluate loan applications and power chatbots.
  • Post-IPO, Cagney retains control with 68.6% of voting power through Class B shares.
  • The IPO was led by Goldman Sachs, Jefferies, and Bank of America, with shares set to trade on Nasdaq under the symbol FIGR.

What Happened?

Figure went public with a strong IPO, reflecting investor interest in blockchain-based lending and fintech innovation. The company’s use of AI and blockchain to streamline lending processes positions it well in the evolving financial technology landscape.

Why It Matters?

Figure’s IPO highlights growing investor appetite for fintech firms leveraging blockchain and AI. The company’s profitability turnaround and large loan volume demonstrate scalability and market potential. Investors should watch Figure’s execution on technology integration and loan portfolio growth.

What’s Next?

Monitor Figure’s trading performance and loan origination trends. Track developments in blockchain lending regulation and AI adoption in fintech. Investors should assess competitive positioning against traditional lenders and emerging fintech players.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018