Figure Technology Solutions, a New York-based company specializing in a blockchain-based consumer lending platform, has made significant adjustments to its initial public offering (IPO) plans. The company announced on Tuesday that it aims to raise approximately $662 million by offering 31.5 million shares, which includes a 15% secondary offering, at a price range of $20 to $22 per share. This is an increase from its earlier proposal to offer 26.3 million shares within a range of $18 to $20.
A notable development in this IPO is the participation of Duquesne Family Office, a new investor committed to purchasing $50 million worth of stock, representing about 8% of the overall deal. By targeting the midpoint of the revised share price range, Figure Technology Solutions is set to secure about 32% more in proceeds than initially projected.
The company leverages a vertically integrated suite of blockchain solutions to facilitate lending, trading, and investing in sectors like consumer credit and digital assets. It has particularly centered its efforts on the home equity line of credit (HELOC) market. Figure Technology Solutions originates loans directly to borrowers while also employing a partner-branded strategy that allows various financial entities—such as mortgage originators, servicers, and credit unions—to utilize its technology for loan origination and distribution.
In 2024, Figure reported facilitating $5 billion in HELOCs, marking a 51% increase year-over-year, and establishing itself as the market leader in the non-bank HELOC lending space.
Founded in 2018, Figure Technology Solutions reported $375 million in revenue for the 12 months ending June 30, 2025. The company plans to list its shares on the Nasdaq under the ticker symbol FIGR. The IPO is expected to be priced during the week of September 8, 2025, with prominent financial institutions including Goldman Sachs, Jefferies, BofA Securities, Societe Generale, Keefe Bruyette Woods, and Mizuho Securities serving as joint bookrunners for the offering.
