Figure Technology Solutions (FIGR) co-founder Mike Cagney says his blockchain business is ready for the big time. "So if you think of something like the stock market, it's an easy example. Seven parties sit in between buyers and sellers of every transaction. Blockchain has the ability to distill that down just to two," Cagney told me on Yahoo Finance's Market Catalysts (video above). Figure Technology Solutions raised $787.5 million in its IPO this week. The company sold 31.5 million shares priced at $25 ...

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].