Figure Technology Solutions Inc. has entered into a definitive agreement to acquire Kiavi, an AI-driven lending platform for real estate investors, for $717 million. The transaction, which includes the acquisition of Kiavi’s balance sheet assets by a joint venture between Figure and investment firm Sixth Street, aims to accelerate Figure’s push into the $200 billion real estate investor market and integrate Kiavi’s operations onto its blockchain-based infrastructure.
How the acquisition impacts Figure’s market position
The deal significantly scales Figure’s reach in the residential mortgage sector. According to an official company announcement, the acquisition is expected to add more than $7 billion in annual first-mortgage volume to Figure Connect, the company’s marketplace for mortgage originations. Additionally, the deal adds over $100 million in monthly volume to Democratized Prime, Figure’s proprietary blockchain-based storage marketplace.
Figure currently facilitates roughly 75% of global real-world asset tokenization, according to company data. By absorbing Kiavi’s platform—which provides short-term residential transition loans and long-term rental property financing—Figure intends to move these assets onto its tokenized rails. The company projects this integration will support a medium-term EBITDA margin goal of 60%.
What Kiavi brings to the technology stack
Kiavi’s existing platform will become the first use case for Adaptor, Figure’s newly developed artificial intelligence product. Adaptor is designed to facilitate agent-to-agent onboarding across various asset classes within the Figure Connect and Democratized Prime ecosystems.
Kiavi reported over $250 million in revenue and more than $100 million in EBITDA for the previous fiscal year. Following the close of the transaction, Kiavi CEO Arvind Mohan will transition to Figure to serve as the company’s Chief Business Officer.
Financial structure of the deal
The $717 million valuation covers the acquisition of the platform and its operational assets. The transaction is structured to include the purchase of Kiavi’s balance sheet assets by a joint venture formed between Figure and Sixth Street.
Figure executives indicated that the deal is expected to be accretive to earnings per share and anticipates an unlevered cash payback in less than four years. Barclays Capital Inc. served as the exclusive financial advisor to Figure and Sixth Street, while Jefferies LLC acted as the exclusive financial advisor for Kiavi.
Key facts about the Figure-Kiavi merger
- Transaction Value: $717 million.
- Strategic Goal: Integration of Kiavi’s loan products into Figure’s blockchain-based tokenization infrastructure.
- Market Opportunity: The deal targets a $200 billion annual origination market.
- Leadership Change: Kiavi CEO Arvind Mohan will join Figure as Chief Business Officer.
- New Tech Integration: Kiavi assets will be the inaugural deployment for Figure’s AI-driven “Adaptor” tool.
This acquisition represents a significant expansion for Figure just nine months after its initial public offering. By shifting real estate capital markets toward blockchain rails, Figure continues its strategy of diversifying its mortgage offerings through AI-assisted agent workflows. The transaction remains subject to customary closing conditions and regulatory approvals.