Figure Technologies Prices IPO at $25, Raises $787M at $5.3B Valuation
Figure Technologies Prices IPO at $25, Raises $787M at $5.3B Valuation
Key Takeaways
- Figure Technology Solutions priced its IPO at $25 per share, raising $787 million at a $5.3 billion valuation.
- Shares begin trading on Nasdaq under ticker FIGR on September 11, 2025.
- The company plans to expand into blockchain-driven credit, stablecoins, and digital asset marketplaces.
IPO Pricing and Market Debut
Blockchain-based lender Figure Technology Solutions has priced its IPO at $25 per share. The company sold 31.5 million shares, raising $787 million.
The shares will begin trading on the Nasdaq Global Select Market on September 11, 2025, with ticker FIGR.
The offering includes 23.5 million shares issued directly by Figure and 8 million shares sold by existing stockholders. Underwriters also hold a 30-day option to purchase up to an additional 4.7 million shares. Figure will not receive proceeds from the secondary sales.
Goldman Sachs, Jefferies, and BofA Securities were the joint lead bookrunners. Other support came from Societe Generale, Stifel, Mizuho, Texas Capital Securities, Needham & Company, and others.
Figure’s Business Model
Founded in 2018, Figure first entered the market as a home equity lender. Over time, it developed a vertically integrated model that combines origination, marketplace distribution, and capital markets execution.
Today, more than 160 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $16 billion in home equity loans, making its ecosystem the largest non-bank provider of such financing.
The company has also rolled out Figure Connect, a consumer credit marketplace, and Democratized Prime, an on-chain lending and borrowing marketplace. Other offerings include DART (Digital Asset Registry Technology) for custody and lien perfection and YLDS, a yield-bearing stablecoin registered with the SEC.
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Blockchain and AI Integration
In its filing, Figure emphasised that its platform is designed to address inefficiencies in credit markets through blockchain transparency and AI-driven automation.
“The infrastructure supporting capital markets today is fragmented and operates on legacy systems that employ antiquated processes for loan approvals and transaction processing,” the company wrote. “This creates process and cost inefficiencies in serving consumer credit markets and limits the development of alternative marketplaces.”
By digitising and automating record-keeping, Figure argues it can reduce errors, lower costs, and increase liquidity across lending and asset markets. Management sees opportunities to expand into stablecoins, tokenised markets, and new forms of credit.
Political and Market Tailwinds
The IPO comes at a time of increasing institutional acceptance of blockchain finance, spurred by the current pro-crypto U.S. administration. Since Donald Trump took office earlier this year, the regulatory climate has become more favorable, encouraging a wave of crypto and fintech listings.
In June 2025, stablecoin issuer Circle debuted on public markets, which analysts described as a “cultural and economic shift” for digital assets entering mainstream finance. Exchange operator Bullish followed with its own listing this summer.
Other firms like Gemini has raised their IPO valuation target from $2.1 billion to $3.2 billion. Also, asset manager CoinShares is preparing a U.S. listing through a SPAC merger that will see it delist from Sweden.
This wave of activity highlights the growing appetite among investors for blockchain-native financial infrastructure.
Market Implications
Figure’s IPO success signals that investors are warming to companies bridging traditional lending and decentralised finance (DeFi). By pricing shares above its initial range, Figure demonstrated robust demand, setting a benchmark for upcoming blockchain-driven IPOs.
With its growing ecosystem, the company is now positioned to test whether blockchain and AI can truly reshape credit markets.
The fresh $787 million capital infusion gives Figure resources to accelerate product expansion. It also deepens partnerships and pushes stablecoin further into adoption.
Figure’s Future Outlook
As trading begins under the ticker FIGR, analysts will be watching closely to see how public markets respond to Figure’s execution on its long-term strategy. If its blockchain and AI approach succeeds in delivering more efficient lending and asset transfer systems, Figure could establish itself as a leader in next-generation capital markets. To stay updated on crypto funding news and trends, visit our fundraising area for more insights.
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