Blockchain startup Figure plans to sell more than 21 million shares – and certain investors will chip in nearly 5 million more – at a price between $18 and $20 each in a planned initial public offering, the company said Tuesday.
Figure aims to raise $526.3 million, en route to a valuation of up to $4.13 billion. A 2021 funding round valued the company at $3.2 billion.
Figure is expected to price the IPO on Sept. 10, according to Bloomberg. The company aims to list on the Nasdaq exchange under the ticker FIGR.
Figure, founded in 2018 by ex-SoFi CEO Mike Cagney, enters the IPO fray at a time when several crypto and fintech companies are also testing the waters. Crypto exchange Gemini and buy now, pay later firm Klarna disclosed plans this week to begin trading publicly. Stablecoin issuer Circle went public in June with a $1.2 billion IPO and jumped 168% on its first day of trading. Crypto exchange Bullish and trading platform eToro have launched IPOs this year, as well.
SoFi alum Michael Tannenbaum succeeded Cagney as Figure’s CEO in 2024, and now shepherds a company that’s heavily invested in home equity.
The company counted $29 million in net income on $190.6 million in revenue for the first six months of 2025, compared with a loss of $13 million on revenue of $156 million over the January-June period last year.
Goldman Sachs, Jefferies and BofA Securities are the lead underwriters on the IPO, Figure said.
