Blockchain-powered lending platform Figure increases deal size by 32% ahead of $662 million IPO
Figure Technology Solutions has increased its IPO deal size by 32%, now aiming to raise $662 million by offering 31.5 million shares at $20 to $22 each. This is up from the previous plan of 26.3 million shares at $18 to $20. The company, which specializes in blockchain-based lending, reported $375 million in revenue for the year ending June 30, 2025, and claims the top market share in non-bank HELOC lending. The IPO is set to price the week of September 8, 2025, under the symbol FIGR on Nasdaq.
Figure Technology Solutions, which operates a blockchain-based consumer lending platform, raised the proposed deal size for its upcoming IPO on Tuesday.
The New York, NY-based company now plans to raise $662 million by offering 31.5 million shares (15% secondary) at a price range of $20 to $22. The company had previously filed to offer 26.3 million shares at a range of $18 to $20. New investor Duquesne Family Office intends to purchase $50 million worth of stock on the offering (8% of the deal). At the midpoint of the revised range, Figure Technology Solutions will raise 32% more in proceeds than previously anticipated.
Figure has built a vertically integrated suite of blockchain-based solutions that powers its marketplaces, including lending, trading, and investing activities in areas such as consumer credit and digital assets. The foundation for its differentiated infrastructure has been in the home equity line of credit (HELOC) market. The company originates loans directly to borrowers, though it has also developed a partner-branded strategy through which mortgage originators, servicers, banks, wholesale brokers, and credit unions can use Figure's technology to originate and distribute their own loans. In 2024, Figure facilitated $5 billion in HELOCs (+51% y/y), claiming to achieve the #1 market share in the non-bank HELOC lending market that year.
Figure Technology Solutions was founded in 2018 and booked $375 million in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol FIGR. Goldman Sachs, Jefferies, BofA Securities, Societe Generale, Keefe Bruyette Woods, and Mizuho Securities are the joint bookrunners on the deal. It is expected to price the week of September 8, 2025.
