Figure Technologies Nasdaq Debut Sparks 44% Surge, Eyes $1B by 2028
Figure Technologies shares opened at $36 on Sept. 11 after pricing its IPO at $25, marking a 44% rally on its Nasdaq debut that raised $787.5 million. The blockchain lending firm, founded in 2018, specializes in HELOCs on the Provenance blockchain, holds 180 lending and 48 money-transmitter licenses, and is an SEC-registered broker-dealer. Figure Technologies reports a 10-day median loan funding time versus the 42-day industry average, has unlocked $17 billion in homeowner equity, and processes 40% of U.S. non-bank HELOC volume. The company recently launched a stablecoin and is expanding into DSCR and unsecured lending. Blockworks Research projects Figure Technologies could hit $1 billion in net revenue by 2028, a milestone Pantera Capital says could rank it among Web3’s “Magnificent Seven.”
Bullish
The 44% stock surge on its Nasdaq debut and a $1 billion revenue forecast by 2028 signal robust investor confidence in Figure Technologies’ blockchain lending model and DeFi adoption. Short-term momentum from the strong IPO performance and growing trading volumes could attract speculators and drive further price appreciation. In the long term, proven efficiency gains—such as a 10-day median loan funding time—and a diversified product roadmap (HELOCs, stablecoin, DSCR and unsecured lending) underpin sustainable growth prospects. Regulatory and educational hurdles remain, but overall the positive market reception suggests a bullish outlook for FIGR shares.