Figure Technologies Aims for $4B+ Valuation in Nasdaq Offering, Led by Mike Cagney

Figure Technologies, the blockchain lender founded by SoFi co-founder Mike Cagney, is aiming for a valuation of up to $4.13 billion in its upcoming initial public offering, according to SEC filings.

The company and its backers plan to raise as much as $526 million through the IPO, making Figure the latest crypto-linked firm to enter public markets amid renewed investor interest. Shares will trade on Nasdaq under the ticker FIGR, with Goldman Sachs, Jefferies, and BofA Securities leading the underwriting syndicate.

Figure has become a prominent player in the real-world asset (RWA) sector, originating over $16 billion in home equity lines of credit using its Provenance blockchain infrastructure. Earlier this year, it merged with Figure Markets, a blockchain marketplace that issues YDLS, a yield-bearing stablecoin structured as a tokenized money market fund.