The American fintech startup Figure Technology Solutions is considering the possibility of conducting an initial public offering (IPO) in the second half of 2025. The company plans to raise between $5 billion and $10 billion, which could become one of the largest deals in the fintech sector in the near future.
This is reported by Business • Media
Preparing for the stock market debut and investor interest
Figure has already held preliminary talks with several large investment funds, including BlackRock, SoftBank, and Tiger Global. The company’s CEO, Mike Cagney, noted that a favorable regulatory environment in the U.S. and increased investor interest have been decisive factors in the plans for the IPO. A previous attempt at an IPO during the Biden administration was unsuccessful due to deficiencies in the submitted documents.
Main products and financial results of the company
Figure specializes in mortgage lending based on blockchain technology and also operates in the cryptocurrency exchange sector. The main source of revenue for the company is the Home Equity Line of Credit — a credit line secured by real estate. The growing demand for this instrument is attributed to high interest rates and homeowners’ reluctance to refinance their mortgages.
Thanks to the implementation of blockchain technologies, which have reduced the cost of loans, as well as partnerships with companies like Credit Karma and Guaranteed Rate, Figure was able to increase the volume of loans issued by 50% — to $5.1 billion last year.
The statement indicates that the majority of Figure’s revenue comes from the Home Equity Line of Credit — a credit line secured by housing. Demand for this instrument has risen amid high rates and homeowners’ reluctance to refinance their mortgages.
It was previously reported that the Canadian company SOL Strategies has also filed for an IPO in the U.S.