Figure stock (NASDAQ: FIGR) soared 44% on its Wall Street debut Thursday, sending the fintech company’s market valuation rocketing to $7.6 billion as investor enthusiasm greeted its IPO.
The New York-based blockchain lending platform, founded by SoFi co-founder Mike Cagney, captured the spotlight amid a resurgence of investor interest in crypto-linked firms and cutting-edge fintech solutions.
Figure stock: A strong Wall Street debut
Figure Technology Solutions launched its initial public offering priced at $25 per share, raising $787.5 million by offering 31.5 million shares.
What initially looked like a solid deal quickly turned phenomenal on Thursday morning, when Figure’s shares opened on Nasdaq at around $44, a jump of roughly 44% above the IPO price.
The stock later settled to a gain of approximately 35%, solidifying a highly successful debut for the company under the ticker “FIGR”.
This trading surge reflects a potent mix of market appetite for fintech innovation and growing conviction that blockchain technology can revolutionize lending.
Unlike traditional home equity lenders taking nearly six weeks to process loans, Figure’s blockchain-powered platform promises home equity loan funding in just 10 days, a radical improvement touted in its IPO filings.
This operational speed, alongside Figure’s profitable growth trajectory, has clearly struck a chord with investors.
The firm reported revenues of $190.6 million in the six months ending June 2025, a 22% year-over-year increase and a net income of $29.4 million swinging from a loss a year prior.
Figure’s ability to generate profit while accelerating loan volume, approximately $6 billion in home equity loans last year alone reinforces its standing as a pioneering fintech market leader.
What analysts say?
Market analysts view Figure’s debut as a bellwether moment for the broader fintech and crypto sectors.
Mike Cagney’s vision to cut out traditional credit intermediaries with blockchain is resonating as part of a larger shift towards decentralized finance and automated lending processes.
Industry watchers are noting that Figure’s solid financials and disruptive technology position it well to capture a significant share of the trillion-dollar home equity market.
Experts highlight that Figure’s valuation surge, reaching $7.6 billion on the first day reflects both confidence in the firm’s immediate growth prospects and a broader bullish sentiment for companies blending AI, blockchain, and financial services.
Some see Figure as a pioneer in what could be a new wave of blockchain-fueled fintech IPOs, especially under a regulatory environment becoming increasingly favorable to digital assets and stablecoins.
Brian Sozzi, an executive editor at Yahoo Finance, underscored the growing investor excitement around firms like Figure that not only innovate but also post profits earlier than many tech startups.
He suggested that this IPO “marks a turning point where blockchain and crypto startups are moving from hype to tangible financial market players”.
Still, some caution is warranted given the volatility historically associated with crypto-related stocks, and uncertainties remain around regulatory landscapes.
Yet, traders and institutional investors appear ready to embrace Figure’s potential for disruption in traditional finance sectors, signaling a broader thaw and maturation for fintech markets in 2025.
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