Figure Technology: Blockchain That Is Changing the Rules in the Lending World

The financial sector is one of the areas where innovation tends to advance slowly. Banking is constrained by regulations, legacy systems, and complex processes. This is precisely where the American company Figure Technology comes in, demonstrating that even in the world of loans and credit, a revolution is possible. Its founder, Mike Cagney, former CEO of SoFi, leveraged his fintech experience and combined it with blockchain technology. While blockchain is best known for cryptocurrencies, Figure applies it to streamline traditional financial services.

How does it work in practice? Instead of the lengthy process of securing a mortgage or consumer loan with numerous intermediaries, Figure can speed up and simplify the entire process through blockchain. Everything is digital, securely recorded, and transparent. Moreover, loans can subsequently be tokenized and traded, adding liquidity to a market that has been relatively closed until now.

The company has already processed billions of dollars in loans, and importantly, unlike many fintech startups, it is profitable today. In just the first half of 2025, it earned revenue of $191 million, nearly double compared to the same period in 2024, with a net profit of $29 million.* This is a significant difference from companies that grow rapidly but cannot turn popularity into sustainable earnings. Figure Technology thus appears to be a serious candidate for long-term success.

The planned IPO on the Nasdaq in mid-September 2025 under the ticker FIGR is expected to raise approximately $400 million in new capital. The transaction is being led by renowned underwriters Goldman Sachs, Jefferies, and Bank of America Securities. Some existing shareholders will also participate in the sale, while founder Mike Cagney will retain the majority of voting rights. The exact number of shares to be issued, the price range, and the portion allocated to retail investors have not yet been disclosed.

Figure’s last private valuation was $3.2 billion in 2021, and the market will be watching closely to see whether the public offering confirms or increases this valuation. For investors, this is an opportunity to participate in integrating blockchain into the real economy—not in the form of risky cryptocurrencies, but as practical solutions that save both time and money. Figure could be an attractive option for those who believe the future of finance is digital, yet expect financial discipline and profitability.

Source: Reuters

*Past performance is not indicative of future results