Figure Technology of SoFi co-founder files for IPO

Figure Technology Solutions – a company led by SoFi co-founder Mike Cagney – has just filed a confidential IPO registration with the SEC (SEC), hoping to go public this year. Currently, the number of shares and the offering price have not yet been determined.

Cagney confirmed the information on platform X: "I know this news has been discussed, but now it's officially confirmed from the source."

Figure is a blockchain-based capital market platform that specializes in connecting fundraising, financing, and secondary trading activities. The company claims to be the largest provider of private equity financing outside of the banking system.

Figure has joined the group of crypto companies planning an IPO, along with Grayscale, Bullish, and BitGo. Previously, Circle – the issuer of USDC – successfully IPO'd in June, and its stock rose more than 500% just two weeks later.

Bullish, the company backed by Peter Thiel, has also announced plans to raise over 600 million USD with a valuation of 4.2 billion USD.

Previously, Figure Markets – a subsidiary of Figure – had established an SPV for international investors and professional investors in America to participate in the auction of locked Solana tokens from the FTX exchange. The two companies merged last month.

As of 2019, Figure has raised $120 million to develop mortgage lending solutions suitable for cash-strapped seniors.

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