Blockchain lender Figure files for IPO

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The seven-year-old firm plans to list on Nasdaq. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The firm last raised funds in 2021 at a $3.2 billion valuation.

More than 160 partners have used Figure’s loan origination system and capital marketplace to originate over $16 billion of home equity, among other products.

In its IPO paperwork, the company reports that it made a $29 million profit for the six months ended in June, compared to a loss of $13 million in the same period the previous year.

Figure was co-founded by industry veteran Mike Cagney. Cagney previously built fintech SoFi but left in 2017 amid sexual harassment allegations.