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].

Company Overview - Figure Technology Solutions (FIGR) raised $787.5 million in its IPO, selling 31.5 million shares at $25 each, which is above the expected range of $20 to $22, resulting in a valuation of $5.3 billion [2] - The company was co-founded in 2018 by Mike Cagney, who previously co-founded SoFi, and focuses on a blockchain platform that supports lending, trading, and investing in consumer credit and digital assets [2] Technology and Performance - Figure's technology enables funding of home equity loans in just 10 days, significantly faster than the industry average of 42 days [3] - For the 12 months ending June 30, 2025, Figure facilitated approximately $6 billion in home equity lending, representing a 29% increase from the previous year [3] - Total revenue for the six months ending June 30 was $190.6 million, up 22% year-over-year, with net income reported at $29.4 million compared to a loss of $13.4 million in the prior year [3] Market Position - The company aims to streamline transactions in the financial market by reducing the number of intermediaries involved, potentially transforming the efficiency of trading and lending processes [1]