Figure completes $717M acquisition of Kiavi to expand blockchain real estate credit

Figure Technology Solutions has completed its $717 million acquisition of Kiavi, a major non-bank lender for residential real estate investors in the United States. The deal, which closed on September 1, integrates Kiavi’s technology and operating platform into Figure’s blockchain-native marketplace.

The acquisition aims to expand Figure’s real-world asset (RWA) strategy by bringing residential real estate credit onto blockchain rails. Kiavi’s residential transition loan and debt-service-coverage-ratio lending technologies will be made available through Figure Connect. The move is expected to add more than $7 billion in annual first-lien loan volume to the Figure Connect network, with over $100 million in monthly volume projected to reach Democratized Prime, Figure’s on-chain lending and borrowing marketplace.

As part of the transaction, a joint venture between Figure and Sixth Street has also purchased loans from Kiavi’s balance sheet. This acquisition serves as a significant test for the fintech industry regarding the institutional use of AI-powered underwriting and blockchain-based funding for assets beyond stablecoins and government bonds.