AsianFin -- Figma took a major step toward a public debut on Tuesday, releasing its S-1 filing and offering the most detailed look yet at its financial performance.

While key details such as share count and pricing remain undisclosed, the move signals growing momentum toward its long-anticipated IPO.

According to estimates from Renaissance Capital, Figma could raise up to $1.5 billion in the offering. That would put it on par with, or ahead of, CoreWeave’s $1.5 billion raise—the largest tech IPO of 2025 to date.