Figure Technologies has increased the size of its upcoming IPO in the U.S. stock market due to rising investor demand. This event could mark a significant milestone in the crypto finance sector.
What Figure Announced
Figure Technologies, based in San Francisco, announced plans to sell 31.5 million shares priced between $20 and $22 each, up from the previously planned 26 million shares priced between $18 and $20. At the top end, Figure would raise $693 million and achieve a valuation of $4.66 billion, making it the largest IPO for a blockchain-native lender in the U.S. relative to revenues.
Why Timing Favors Figure
This decision is particularly significant amid political support and renewed interest in digital assets. Bloomberg's press service has also reported additional investments from Middle Eastern sovereign wealth funds, highlighting the growing global interest in crypto-related equities.
Inside Figure’s Business Model
Founded in 2018 by fintech veteran Mike Cagney, Figure started with digitizing home equity lending. Their blockchain-based process reduces funding times to 10 days, compared to the industry average of 42 days.
Thus, Figure Technologies' IPO is set to be a significant event for the blockchain finance sector, demonstrating rising investor interest in regulated companies in this field.
