Yazılar

Blockchain Lender Figure Raises $787.5 Million in U.S. IPO at $5.3 Billion Valuation

/in /tarafından

Figure Technology, a blockchain-based lender and stablecoin issuer, raised $787.5 million in its U.S. initial public offering on Wednesday, marking one of the year’s largest debuts from the crypto sector as digital assets gain wider mainstream traction.

The New York-based company and its investors sold 31.5 million shares at $25 each, above the raised price range of $20–$22. The deal valued Figure at $5.29 billion. Originally slated to offer 26 million shares, the firm boosted the size of the sale on Tuesday amid strong demand.

Shares will begin trading Thursday on the Nasdaq under the ticker FIGR. Goldman Sachs, Jefferies, and BofA Securities acted as lead underwriters.

Figure’s Business

Founded in 2018, Figure uses blockchain technology to connect lenders and borrowers, particularly in the housing market. According to its filings, the company can fund home equity loans in just 10 days, compared to the industry average of 42 days.

The IPO also drew interest from major investors. Billionaire Stanley Druckenmiller’s Duquesne Family Office indicated plans to purchase up to $50 million worth of shares.

Crypto Momentum

The listing comes as the crypto sector surpasses $4 trillion in market value, boosted by regulatory wins under a pro-crypto White House, corporate adoption of digital assets, and strong inflows into crypto-linked ETFs.

Figure joins a wave of companies going public in what is shaping up to be one of the busiest weeks for U.S. IPOs in years. Swedish fintech Klarna jumped 30% in its New York debut earlier the same day, while Gemini, Via, and Black Rock Coffee are expected to price offerings next.

Travel Tech Firm Navan Confidentially Files for U.S. IPO

/in /tarafından

Navan, a corporate travel and expense management company based in Palo Alto, California, announced on Friday that it has confidentially filed for a U.S. initial public offering (IPO). The company has not yet disclosed the terms of the offering.

Backed by investors including Andreessen Horowitz and Lightspeed, Navan raised $304 million in equity and structured debt financing in 2022, when it was valued at $9.2 billion. The filing comes amid renewed optimism in the U.S. IPO market, which has seen a resurgence after a slow start to 2025.

Recent IPO successes in the technology and finance sectors, such as space and defense tech company Voyager Technologies and advertising technology firm MNTN, have helped build momentum. Shares of Chime Financial also surged in a notable New York debut, encouraging upcoming offerings from crypto exchange Gemini and fintech company Klarna.

Matt Kennedy, senior strategist at Renaissance Capital, highlighted growing IPO activity and interest from both institutional investors and traders eager to participate in strong growth opportunities with reasonable valuations.

Founded in 2015 originally as TripActions, Navan began as a corporate travel management platform designed to modernize services traditionally provided by companies like American Express and SAP Concur. It later broadened its offerings to include corporate payments and expense management.

Navan’s client roster includes companies such as Zoom Communications and Lyft, according to its website.