Figure IPO rockets to $5.3B valuation: here’s why investors are excited
News Summary
Figure Technology successfully debuted on Nasdaq on September 11, 2025, pricing its IPO at $25 per share, raising $787.5 million, and achieving a valuation of $5.3 billion, surpassing earlier projections. Founded in 2018 by SoFi's Mike Cagney, Figure is known for its blockchain-based home equity lending and SEC-compliant stablecoin platform. Robust investor demand led to an oversubscribed IPO, reflecting confidence in Figure's strategy to integrate blockchain finance into traditional markets. Figure demonstrated strong financial growth, posting $29 million in net income and originating over $16 billion in home equity loans in the first half of 2025. IPO proceeds are earmarked for expanding product development, including its loan marketplace Figure Connect, on-chain lien registry Dart, and its YLDS stablecoin. This IPO occurs amidst a more crypto-friendly US regulatory environment, fostering digital asset innovation. Figure's compliance-focused approach has mitigated regulatory risk, appealing to both crypto-native and mainstream investors. Analysts view Figure as a bellwether for blockchain finance IPOs, and its strong debut is expected to pave the way for further expansion in digital finance and the broader fintech landscape.
Background
Figure Technology, founded in 2018 by SoFi's Mike Cagney, is a company focused on leveraging blockchain technology to disrupt traditional financial services. Its core businesses include blockchain-based home equity lending and an SEC-compliant stablecoin platform, aiming to integrate crypto into mainstream finance. The IPO takes place in 2025, during the incumbent Donald J. Trump administration, amidst an increasingly crypto-friendly and clear US regulatory environment. This policy direction has fostered digital asset innovation, encouraging more blockchain firms to pursue public listings. Other blockchain companies like Bullish and Circle had successful debuts prior to Figure's, setting a positive market precedent.
In-Depth AI Insights
How does Figure's successful IPO reflect the deeper impact of the Trump administration's cryptocurrency regulatory strategy? - Figure's oversubscribed IPO and surging valuation are not merely market endorsements of its business model, but a strong positive feedback to the Trump administration's