Mike Cagney’s Figure Technologies Seeks Over $4B Valuation in Nasdaq IPO

Figure Technologies, the blockchain lender founded by SoFi co-founder Mike Cagney, is aiming for a valuation of up to $4.13 billion in its upcoming initial public offering, according to new filings with the U.S. Securities and Exchange Commission.

The company and its backers are seeking to raise as much as $526 million through the share sale, making Figure the latest crypto-linked firm to test equity markets as investor appetite for new listings returns.

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Shares are set to trade on Nasdaq under the ticker FIGR, with Goldman Sachs, Jefferies, and BofA Securities leading the underwriting syndicate.

Figure has been a prominent player in the real-world asset (RWA) sector, originating more than $16 billion in home equity lines of credit using its Provenance blockchain rails.

Earlier this year it merged with Figure Markets, another Cagney venture that operates a blockchain marketplace and issues YDLS, a yield-bearing stablecoin structured as a tokenized money market fund.

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