Figure Technology Solutions intends to go public in the fall, aiming to raise $5 billion to $10 billion after earlier challenges. The company derives significant revenue from home equity lines of credit, with over 88% of its $26.02 million volume in 2024 attributed to home equity loans. A joint venture with Sixth Street, which plans to invest $200 million in equity, will help create a more liquid marketplace for Figure's loans by securitizing loans and selling bonds to investors.
Figure Technology Solutions is aiming to go public in the fall, targeting a capital raise of between $5 billion to $10 billion after past challenges.
The company generates most of its revenue from its home equity line of credit (HELOC) business, which has seen growth due to rising home prices.
In 2024, home equity loans accounted for more than 88% of Figure's volume of $26.02 million, highlighting the firm's focus in that market.
A joint venture with Sixth Street will facilitate the investment of $200 million in equity to create a more liquid marketplace for Figure's loans.
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