Figure Technology Solutions nearly tripled quarterly profit as demand across its lending marketplace accelerated sharply. The blockchain-focused lender reported $87 million in second-quarter net income, up 192% from $30 million a year earlier.
Marketplace Activity Accelerates
Consumer Loan Marketplace volume reached $4.3 billion, marking 132% annual growth. Significantly, Figure Connect generated $2.8 billion as institutional investors increased activity in loan markets.
Moreover, Figure added more than 100 loan-origination partners during the quarter. The expansion strengthens its reach across home equity, personal lending, and debt-service coverage ratio loans.
Net revenue also climbed above $226 million, more than doubling from the previous year. Consequently, stronger marketplace activity continues to improve Figure’s financial performance.
Expansion Broadens Growth
Additionally, Figure expects its planned $717 million Kiavi acquisition to close during the second half. The deal could expand its presence across real estate lending and related asset classes.
Besides, Figure entered small-business lending through a Credibly partnership in May. Weekly applications exceeded $1 billion in July, signaling sustained demand.
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