Figure Technology Solutions has completed its acquisition of residential lending platform Kiavi, closing the $717 million transaction announced in June and bringing Kiavi's technology, operating platform and certain other assets into Figure's blockchain-based capital marketplace.
Kiavi's residential transition loans and debt-service coverage ratio lending technology will be integrated into Figure Connect and offered across more than 480 ecosystem partners. Kiavi CEO Arvind Mohan will join Figure as chief business officer and oversee the rollout. A joint venture between Figure and investment firm Sixth Street purchased loans from Kiavi's balance sheet and will originate residential transition loans for sale through Figure Connect.
Figure CEO Michael Tannenbaum said adding Kiavi's platform, technology and staff accelerates the company's marketplace plans as it works with partners in the $35 trillion home equity market.
Figure expects the deal to add more than $7 billion in annual loan volume and more than $100 million in monthly flow for Democratized Prime, its onchain credit marketplace. Kiavi previously generated more than $250 million in revenue and over $100 million in EBITDA during 2025, and Figure estimates the products represent a $200 billion annual addressable origination market.
The transaction was funded after Figure completed a $600 million offering of 8.5% senior notes due 2031 in July. A regulatory filing showed approximately $590 million in cash consideration, net of cash acquired, subject to customary adjustments. Figure also plans to use its Adaptor AI tool to standardize originator data as Kiavi loans move onto its blockchain-based infrastructure.
The acquisition extends Figure's push into first-lien residential credit and tokenized real-world assets. Figure's second-quarter loan volume reached $4.3 billion, up 77% year over year, while net income rose 192% to $90 million. Figure's YLDS token circulation reached $556 million at the end of June, and the company has deployed YLDS on Sui, joined the Stellar network as a validator, and launched the OPEN network for onchain public equities.
