Figure Technologies, the blockchain-focused lender founded by SoFi co-founder Mike Cagney, is targeting a valuation of up to $4.13 billion in its upcoming initial public offering, according to new SEC filings.
The company and its investors aim to raise as much as $526 million through the share sale, making Figure the latest crypto-linked firm to tap public markets as investor interest in IPOs resurges. Shares are expected to trade on Nasdaq under the ticker FIGR, with Goldman Sachs, Jefferies, and BofA Securities leading the underwriting syndicate.
Figure has emerged as a key player in the real-world asset (RWA) sector, originating over $16 billion in home equity lines of credit through its Provenance blockchain. Earlier this year, it merged with Figure Markets, a blockchain marketplace that issues YDLS, a yield-bearing stablecoin structured as a tokenized money market fund.
