Figure to acquire Kiavi for $717M, adds $7B origination and $100M monthly funding
FIGR•Figure Technology Solutions will acquire Kiavi in a $717 million transaction, adding $7 billion in annual first-lien origination volume and boosting its Democratized Prime platform by $100 million monthly. The transaction expands Figure’s addressable real estate lending market to $200 billion and targets a 60% EBITDA margin.
1. Acquisition Agreement
Figure Technology Solutions has signed a definitive agreement to acquire AI-driven real estate lender Kiavi for $717 million, with balance sheet assets to be held in a new joint venture with Sixth Street. The deal brings short-term Residential Transition Loans and longer-duration Debt Service Coverage Ratio products into Figure’s lending ecosystem.
2. Market and Volume Impact
Kiavi’s portfolio is expected to add over $7 billion in annual first-lien origination volume to Figure Connect and contribute more than $100 million per month to the Democratized Prime warehouse funding platform. The combined business addresses an estimated $200 billion annual residential real estate lending market.
3. Financial Targets
Management projects the acquisition will support a medium-term EBITDA margin of 60%, deliver earnings-per-share accretion and achieve an unlevered cash payback period of under four years. The transaction aligns with Figure’s goal of expanding blockchain-native funding and improving capital efficiency.
4. Strategic Integration and Leadership
Kiavi’s lending operations will become the inaugural use case for Adaptor, Figure’s new AI product designed to streamline agent-to-agent onboarding across its tokenized platforms. Following closing, Kiavi CEO Arvind Mohan will join Figure’s executive leadership team as Chief Business Officer.
