Blockchain consumer lending platform operator Figure Technology Solutions (FIGR.US) increased its initial public offering (IPO) fundraising target on Tuesday. The New York-based company now plans to raise $662 million through the issuance of 31.5 million shares (with 15% being secondary offering shares), with a price range set at $20 to $22 per share. Previously, the company's IPO filing indicated plans to issue 26.3 million shares with a price range of $18 to $20 per share.

New investor Duquesne Family Office plans to subscribe to $50 million worth of shares in this offering, representing 8% of the total fundraising amount. Based on the midpoint of the adjusted price range, Figure's fundraising will be 32% higher than previously expected.

Figure has built a vertically integrated blockchain solution system that provides technical support for various market businesses under its umbrella, covering lending, trading, and investment activities in consumer credit, digital assets, and other fields. The core foundation of its differentiated infrastructure is built on the home equity line of credit (HELOC) market.

The company both directly issues loans to borrowers and has created a "co-branded strategy" where mortgage originators, loan servicers, banks, wholesale brokers, and credit unions can leverage Figure's technology platform to conduct their own loan origination and distribution business.

In 2024, Figure facilitated $5 billion in home equity line of credit transactions, a 51% year-over-year increase, and claims to have captured the number one market share position in the non-bank home equity line of credit lending market that year.

Founded in 2018, Figure generated $375 million in revenue for the 12 months ending June 30, 2025. The company plans to list on the NASDAQ Stock Exchange under the ticker symbol "FIGR."

Goldman Sachs, Jefferies, BofA Securities, Société Générale, Keefe Bruyette Woods, and Mizuho Securities serve as joint book-running managers for this IPO. The company is expected to finalize its IPO pricing during the week of September 8, 2025.