Fintech Figure Aims for $4.1B Valuation as IPO Wave Hits Wall Street

Figure Technologies filed paperwork seeking a valuation of up to $4.13 billion in its upcoming initial public offering (IPO), making it the third major fintech company to announce plans to go public on Wall Street this week.

The blockchain-based lender has revealed it plans to sell 26.3 million shares at $18 to $20 each, potentially raising $526.3 million. Figure joins Swedish buy-now-pay-later giant Klarna and cryptocurrency exchange Gemini in launching investor roadshows this week, signaling renewed appetite for fintech IPOs.

“With the current administration strongly supportive of the space, the pipeline is likely to remain active for well-structured, compliance-forward players,” said Josef Schuster, CEO of IPOX, quoted by Reuters.

New US Regulations Provide Incentives

Figure operates what it calls a blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-native platform for consumer lending and digital asset services. The company, co-founded in 2018 by entrepreneur Mike Cagney, claims it can fund home equity loans in just 10 days compared to the industry standard of 42 days.

The timing reflects broader momentum in crypto markets. Recent regulatory clarity and strong inflows into cryptocurrency exchange-traded funds have boosted institutional adoption of digital assets. Successful public debuts by crypto exchange Bullish and stablecoin issuer Circle have encouraged other blockchain companies to test investor appetite.

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Figure Technologies Targets September IPO After Profit Turn

Figure's financial performance has improved dramatically. The company posted a $29 million profit for the six months ending June 30, a sharp turnaround from the $13 million loss during the same period last year.

“Investors in this space tend to be patient because they see the long-term potential, especially with regulatory hurdles starting to clear and adoption continuing to grow,” said Jeff Zell, senior research analyst at IPO Boutique.

The company will list on the Nasdaq under the ticker symbol “FIGR.” Goldman Sachs, Jefferies and Bank of America Securities are serving as lead underwriters for the offering.

Fintechs Seek Fresh Capital

This week's trio of fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term IPO announcements suggests Wall Street's appetite for financial technology companies is rebounding after a prolonged drought. The sector had largely avoided public markets during the past two years as rising interest rates and regulatory uncertainty dampened investor enthusiasm.

Figure's blockchain focus sets it apart from traditional fintech companies. The platform handles everything from consumer credit to digital asset trading, positioning itself at the intersection of traditional finance and cryptocurrency markets.

The company's rapid loan processing capabilities have become a key selling point. While most home equity loans take more than a month to complete, Figure's technology-driven approach cuts that timeline to roughly a week and a half.