Figure Technology Solutions reports $4.3B Q2 loan marketplace volume

Figure Technology Solutions reported a significant increase in its second-quarter performance, with Consumer Loan Marketplace volume reaching $4.3 billion, a 132% increase year-over-year. The company’s net income rose 192% to $87 million, while net revenue more than doubled to $226 million.

Figure Connect, the company’s blockchain-based marketplace for private credit, was a primary driver of this growth, accounting for $2.8 billion, or 65%, of the total marketplace volume. This represents a 262% increase in Figure Connect volume compared to the same period last year. The company also expanded its network of origination partners by 102, bringing the total to 489.

CEO Michael Tannenbaum noted that weekly loan application volumes on the platform surpassed $1 billion in early July. Looking ahead, Figure expects third-quarter marketplace volume to fall between $4.8 billion and $5.2 billion. The company also highlighted the ‘Figure Factor,’ noting that mortgage partners using its platform originated approximately 2.6 times more HELOC volume than their pre-Figure production baselines would have predicted.