Figure Technology Solutions, which operates a blockchain-based consumer lending platform, announced terms for its IPO on Tuesday. The company filed under the name FT Intermediate but plans to change it in conjunction with the offering.
The New York, NY-based company plans to raise $500 million by offering 26.3 million shares (18% secondary) at a price range of $18 to $20. At the midpoint of the proposed range, Figure Technology Solutions would command a fully diluted market value of $4.5 billion.
New investor Duquesne Family Office intends to purchase $50 million worth of stock on the offering (10% of the deal).
Figure has built a vertically integrated suite of blockchain-based solutions that powers its marketplaces, including lending, trading, and investing activities in areas such as consumer credit and digital assets. The foundation for its differentiated infrastructure has been in the home equity line of credit (HELOC) market. The company originates loans directly to borrowers, though it has also developed a partner-branded strategy through which mortgage originators, servicers, banks, wholesale brokers, and credit unions can use Figure's technology to originate and distribute their own loans.
Figure Technology Solutions was founded in 2018 and booked $375 million in sales for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol FIGR. Goldman Sachs, Jefferies, BofA Securities, Societe Generale, Keefe Bruyette Woods, and Mizuho Securities are the joint bookrunners on the deal. It is expected to price during the week of September 8, 2025.
