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Figure Tech Targets $4.3B Valuation in September IPO, Fueling Crypto’s Public Frenzy

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Blockchain-based lender Figure Technology Solutions Inc. is making ready to go public this month in one of the carefully watched listings in the crypto-fintech sector.

The firm and its backers are searching for to lift as much as $526 million by way of an preliminary public providing, in accordance with a submitting with the U.S. Securities and Exchange Commission.

According to a Bloomberg report, Figure plans to promote 21.5 million shares priced between $18 and $20 every, whereas current shareholders are providing a further 4.9 million shares. At the highest of that vary, the agency would command a market capitalization of $4.13 billion, surpassing its $3.2 billion valuation from a 2021 enterprise spherical.

The firm is anticipated to cost its shares on September 10, with buying and selling set to start on Nasdaq beneath the ticker image FIGR. Goldman Sachs, Jefferies, and Bank of America are main the providing.

Figure IPO Follows Strong Revenue Growth and Blockchain Expansion

Founded in 2018 by Mike Cagney, the previous chief government of SoFi Technologies, Figure has positioned itself as a developer of blockchain-based options to streamline shopper lending.

The agency started with dwelling fairness line of credit score (HELOC) merchandise and has since expanded into crypto-backed loans and a digital asset alternate.

To date, it has originated or bought greater than $16 billion in loans on-chain. In August, the company increased its HELOC borrowing restrict from $400,000 to $750,000 to seize a bigger share of equity-rich owners.

Figure has additionally moved into artificial intelligence, utilizing OpenAI’s expertise to guage mortgage purposes and Google’s Gemini chatbot to enhance buyer interactions.

According to its submitting, clients for partner-branded HELOC loans in the primary half of 2025 had a weighted common FICO rating of 756, barely greater than the 749 common for its own-branded loans.

The firm’s development trajectory has accelerated in 2025. For the six months ending June 30, Figure reported a internet revenue of $29.1 million on income of $190.6 million, in contrast with a internet lack of $15.6 million on $156 million in income throughout the identical interval final 12 months.

Investors embrace Apollo Global Management, 10T Holdings, and Ribbit Capital. Despite the IPO, Cagney will proceed to manage a majority of the voting energy, the submitting reveals.

Michael Tannenbaum, previously with Brex and SoFi, was appointed CEO in 2024, tasked with guiding the corporate’s public market debut and scaling its blockchain-based lending merchandise.

Beyond lending, Figure is pursuing regulatory approval for what it says might be the primary U.S.-approved interest-bearing stablecoin structured as a safety.

Figure’s providing follows a sequence of confidential filings earlier this 12 months, with the company formally submitting its registration in mid-August.

Marketing displays to buyers emphasize its means to pair blockchain effectivity with conventional monetary rigor, noting price reductions in mortgage origination and securitization.

In addition to mortgage merchandise, Figure recently rolled out its Intellidebt answer, which has already helped clients repay $133 million in debt by consolidating bank cards, auto loans, and private loans into single fee constructions.

Crypto IPO Rush Accelerates as Gemini and Circle Join Wall Street Frenzy

Crypto-linked corporations are racing to public markets this fall, capitalizing on renewed investor urge for food and favorable situations in the U.S.

According to latest filings, Gemini Space Station, the father or mother of crypto alternate Gemini, based by Cameron and Tyler Winklevoss, is seeking up to a $2.22 billion valuation in its Nasdaq debut.

The New York-based agency plans to promote 16.67 million Class A shares at $17 to $19 every, doubtlessly elevating $317 million. Shares will commerce beneath the ticker GEMI, with underwriters granted an choice to purchase a further 2.5 million shares.

Ripple has backed Gemini’s listing with a $75 million credit score facility, expandable to $150 million.

The surge in exercise comes after Circle Internet Group’s successful market debut earlier this year, which greater than doubled its worth. It now boasts a $30 billion market cap.

The sturdy efficiency has fueled optimism that 2025 might mark a turning level for digital asset corporations after years of regulatory and market headwinds.

Wall Street banks are fielding heightened demand from expertise and crypto issuers. Goldman Sachs’ co-head of fairness capital markets, Will Connolly, mentioned corporations are accelerating timelines, with some initially focusing on 2026, now asking to maneuver ahead this 12 months.

JPMorgan’s Keith Canton tasks that dozens of IPOs might shut earlier than year-end, elevating greater than $15 billion.

Beyond conventional listings, crypto-focused particular objective acquisition corporations (SPACs) are additionally coming into the fray. Bitcoin Infrastructure Acquisition Corp., a Cayman Islands-based blank-check agency, filed to raise $200 million to target Web3, DeFi, and blockchain finance companies, itemizing on Nasdaq beneath the ticker BIXIU.

Other listings embrace Bullish, a Peter Thiel-backed alternate that raised $1.15 billion in its NYSE debut, completely in stablecoins. Bullish joined Coinbase and Circle among the many best-performing crypto IPOs of 2025, with Circle and CoreWeave delivering 336% and 132% returns, respectively.

With supportive coverage shifts beneath the Trump administration and a buoyant threat atmosphere, crypto IPOs are gaining momentum as corporations rush to safe market share earlier than year-end.

The publish Figure Tech Targets $4.3B Valuation in September IPO, Fueling Crypto’s Public Frenzy appeared first on Cryptonews.

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