News Summary

Figure Technology, a blockchain-based lending company, has filed for an IPO on Nasdaq, with Goldman Sachs, Jefferies, and BofA Securities as lead bookrunners. Founded by Mike Cagney, who previously established SoFi, Figure reported a revenue increase of 22.4% to $191 million and a profit of $29 million in the first half of 2025. The company has become a major player in blockchain lending, with over 160 partners for its loan origination system. In 2024, Figure spun off and later re-integrated Figure Markets, aiming to capture opportunities in real-world asset tokenization. The IPO follows previous attempts to go public via SPAC, which were unsuccessful due to market conditions.