Figure CEO on IPO: We will transform investing by using the blockchain

Company Overview - Figure Technology Solutions (FIGR) is a blockchain platform co-founded by Mike Cagney, who is also the CEO. The company focuses on lending, trading, and investing in consumer credit and digital assets [3]. IPO Details - Figure Technology Solutions raised $787.5 million in its IPO, selling 31.5 million shares at a price of $25, which is above the expected range of $20 to $22. This pricing gives the company a valuation of $5.3 billion [3]. Business Model and Technology - The company's technology enables funding for home equity loans in just 10 days, significantly faster than the industry average of 42 days [4]. - For the twelve months ending June 30, 2025, Figure facilitated approximately $6 billion in home equity lending, representing a 29% increase from the previous year [4]. Financial Performance - Total revenue for Figure was reported at $190.6 million for the six months ending June 30, marking a 22% increase year-over-year. The net income for the same period was $29.4 million, a turnaround from a loss of $13.4 million in the previous year [4].