Figure Technology Raises $787.5M in IPO, Valued at $5.29B
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Figure Technology, a stablecoin and blockchain-based home lending platform, raised $787.5 million in a U.S. IPO, selling 31.5 million shares at $25 each and valuing the company at $5.29 billion. The IPO, led by Goldman Sachs, Jefferies, and BofA Securities, marks another crypto firm tapping public markets amid growing mainstream adoption of digital assets. Figure, founded in 2018, uses blockchain to connect lenders and borrowers, funding home equity loans in just 10 days, compared to the industry average of 42 days. The stock will trade on Nasdaq under the ticker FIGR. Billionaire investor Stanley Druckenmiller expressed interest in purchasing up to $50 million in shares. The IPO comes amid a strong U.S. IPO market, highlighted by Klarna’s 30% jump in its debut, with other firms like Gemini, Via, and Black Rock Coffee also set to go public.