- Figure aims for IPO this fall as crypto climate grows friendlier.
- Regulatory change and Circle success inspire Figure billion-dollar IPO push.
- The company’s talks with BlackRock, SoftBank signal strong backing for IPO plan.
Figure Technology Solutions, a blockchain lending company, plans to launch an initial public offering (IPO) this fall. The company is interested in enjoying a more friendly crypto environment and good investor interest. According to The Information, co-founder Mike Cagney confirmed this news recently.
Figure Plans $1B IPO After Biden-Era Setback
Earlier, Figure attempted to go public during the administration of Biden. But the move was hampered as regulators raised concerns about the usage of the word blockchain in its filings. At this point, things appear to be improved. According to Cagney, the White House is more crypto-friendly now. This has made the company bold enough to take this step.
Moreover, investors are also very much interested in crypto-related companies. As an example, Circle, the issuer of stablecoins, became publicly traded in June. Since then, its stock price has gone up eightfold. It is this success that has encouraged Figure to give it a second time. According to Cagney, this company wants to raise as much as 1 billion dollars in its IPO.
Besides, Figure has already begun to negotiate with large investors. It is reported that the company met with BlackRock, SoftBank, and Tiger Global Management. These are companies that usually support large technology projects. Figure wishes that his support can make the IPO successful.
Cagney addressed the media last week at the San Francisco office of the company. He said that the revenue and earnings of Figure are increasing. The annualized revenue of the company was approximately 355 million in the first quarter. This is roughly 35% higher than in the past year. In addition, its earnings before interest, tax, depreciation, and amortization (EBITDA) were approximately 121 million dollars.
Figure Grows Lending by 50%, Targets Billion-Dollar IPO
The other cause of the growth of Figure is due to its core product. The firm deals with issuances of Home Equity Lines of Credit (HELOCs). In recent years, home prices have increased. Thus, the homeowners are more able to have equity in their houses. A good number of individuals do not wish to renegotiate their low-interest rates on their mortgages. Rather, they obtain additional cash in the form of HELOCs. This has aided in the development of Figure business.
Additionally, Figure uses blockchain technology to cut costs. The records of all loans are stored in a single database. This minimizes expenses such as audits. The majority of loans made by Figure are fulfilled with partners. To illustrate, the company cooperates with Credit Karma and Guaranteed Rate. Such alliances assisted Figure in increasing its lending capital by 50 % last year. This sum amounted to the total of 5.1 billion.
Other than lending, Figure also securitizes loans. This implies that it resells the loans to investors and earns fees. The company has informed investors that the rate at which it is experiencing credit losses has remained at or less than 1%.
Moreover, Figure operates a cryptocurrency exchange. However, its primary income is home loans being undertaken using blockchain. It is currently aiming at an IPO of between half a billion and one billion dollars.
To sum up, the crypto market is evolving at a rapid pace. Figure is seeking to ride on this wave. The company is hoping that its technology, high revenue growth, and large partners will be able to assist it in its success. The IPO plans are going to be closely followed by investors this fall.
Read More
- USD GEL PREDICTION
- Gold Rate Forecast
- USD IDR PREDICTION
- LEO PREDICTION. LEO cryptocurrency
- AVAX PREDICTION. AVAX cryptocurrency
- EUR VND PREDICTION
- FIL PREDICTION. FIL cryptocurrency
- EUR AUD PREDICTION
- WLD PREDICTION. WLD cryptocurrency
- Silver Rate Forecast
2025-07-16 20:53