Blockchain-powered lender Figure has officially filed with the U.S. Securities and Exchange Commission for an initial public offering, planning to list Class A shares on Nasdaq under the ticker FIGR. Goldman Sachs, Jefferies, and BofA Securities will serve as lead underwriters.
Founded by SoFi co-founder Mike Cagney, Figure has been building its path to the public markets since 2021, when it launched a SPAC with $250 million but failed to bring the company to market. A friendlier regulatory stance under the Trump administration and buoyant markets have now revived its IPO ambitions.
Figure recently merged with Figure Markets, a blockchain marketplace that also issues YDLS, a tokenized yield-bearing stablecoin. Financials in the S-1 show revenue jumped 22.4% to $190.6 million in the first half of 2025, with net income at $29 million compared with a $13 million loss last year. IPO proceeds will fund working capital and acquisitions, though no dividends are planned.
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