Blockchain lender Figure Technology has filed for an initial public offering (IPO) with the SEC, aiming to list on Nasdaq. The specific number of shares and the pricing range for this offering have yet to be finalized. The company achieved its last funding round in 2021, garnering a valuation of $3.2 billion.
Figure’s innovative loan origination system and capital marketplace have attracted over 160 partners, facilitating the origination of more than $16 billion in home equity and related products.
In its IPO filing, Figure reported a profit of $29 million for the six-month period ending June, a significant turnaround from a $13 million loss during the same timeframe in the prior year.
Co-founded by industry expert Mike Cagney, Figure has its roots in the fintech space. Cagney is also known for founding SoFi, from which he departed in 2017 amid allegations of misconduct.