Figure Technologies, Led by Mike Cagney, Eyes $4 Billion Valuation in Nasdaq Debut

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 SEC filings.

The company and its investors plan to raise as much as $526 million through the share sale, marking Figure as the latest crypto-linked firm testing public markets amid renewed appetite for IPOs. Shares will 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 via its Provenance blockchain. Earlier this year, it merged with Figure Markets, a blockchain marketplace issuing YDLS, a yield-bearing stablecoin structured as a tokenized money market fund.