Figure Completes $717 Million Kiavi Acquisition, Pushing $7 Billion in Real Estate Loans Onchain
Figure Technology Solutions has finalized its $717 million acquisition of Kiavi, a residential real estate lending technology provider, to significantly scale its blockchain-based private credit marketplace. The transaction, which closed on September 1, integrates Kiavi’s AI-driven platform and over $7 billion in projected annual loan volume into Figure’s onchain ecosystem. Figure funded the deal primarily through a $600 million senior note offering and utilized a joint venture with investment firm Sixth Street to acquire Kiavi’s loan balance sheet. This move expands Figure’s reach into the first-lien mortgage market, which the company estimates is 25 times larger than the second-lien segment. By leveraging Kiavi’s proprietary home-value engine and document review tools, Figure aims to standardize data for its Democratized Prime and Figure Connect platforms. The acquisition positions Figure as a dominant player in the tokenized private credit sector, which saw significant growth to $65 billion in total RWA market value by May 2026. This integration serves as a critical test for whether tokenized private credit can achieve the same scalability and institutional adoption as tokenized government bonds.
- Figure acquired Kiavi for $717 million, adding $7 billion in projected annual loan volume.
- The deal expands Figure's onchain lending into the first-lien residential mortgage market.
- Figure held approximately 75% of the tokenized private credit market at the end of 2025.
- The acquisition integrates Kiavi's AI-driven underwriting tools into Figure's blockchain-based marketplace.
Figure Technology Solutions is a fintech company that utilizes blockchain infrastructure to streamline financial services, including lending and asset trading. Its ecosystem, which includes the Provenance Blockchain, focuses on digitizing the origination, servicing, and sale of loans to reduce costs and increase settlement speed. Kiavi provides technology for residential real estate investors, specializing in short-term transition loans and long-term debt-service coverage ratio loans.