Figure Loan Marketplace Volume Reaches $4.3B in Q2

Figure Technology Solutions reported $4.3 billion in consumer loan marketplace volume for the second quarter, up 132% from a year earlier, as its quarterly profit nearly tripled. 

On Thursday, Figure said net income rose 192% year over year to $87 million, from about $30 million. Net revenue more than doubled to $226 million, while its net income margin increased 10.5 percentage points to 38.8%. 

Figure’s marketplace volume includes home equity lines of credit, debt-service coverage ratio loans and personal loans processed through its loan origination system, along with third-party loans traded on Figure Connect, which accounted for $2.8 billion, or 65%, of the quarterly total. 

Volume on the marketplace, which Figure launched in June 2024, increased 262% from the same period last year. The company also added 102 loan-origination partners during the quarter, bringing its total to 489. 

CEO Michael Tannenbaum said weekly loan…