"Figure Technology's IPO paperwork shows a 22.4% revenue increase, with $191 million earned in six months and a profit of $29 million compared to a $13 million loss last year."
"Figure claims to be the largest non-bank provider of home equity lines of credit, leveraging blockchain technology for expedited approval processes in loans."
Figure Technology has filed for an IPO on Nasdaq, aiming to raise capital with Goldman Sachs, Jefferies, and BofA Securities as lead bookrunners. Revenue rose 22.4% to $191 million in the first half of the year, with a profit of $29 million, a turnaround from a $13 million loss the previous year. Figure is notably positioned as a major player in blockchain-based lending while expanding into cryptocurrency lending, allowing asset owners to secure loans against Bitcoin and Ethereum.
Read at TechCrunch
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