Figure Technologies, the blockchain lender founded by SoFi co-founder Mike Cagney, is targeting a valuation of up to $4.13 billion in its upcoming initial public offering, according to recent SEC filings.
The company and its investors aim to raise as much as $526 million through the IPO, making Figure the latest crypto-linked firm to tap public markets as investor appetite for new listings grows. Shares are set to trade on Nasdaq under the ticker FIGR, with Goldman Sachs, Jefferies, and BofA Securities leading the underwriting syndicate.
A key player in the real-world asset (RWA) sector, Figure has originated more than $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.
