Figure Acquires Kiavi for $717 Million to Expand Tokenized Lending

Figure Technology Solutions has agreed to acquire Kiavi for $717 million in a deal that moves one of the largest U.S. residential transition loan originators onto its blockchain marketplace. The transaction splits between Figure purchasing Kiavi's technology platform and a joint venture with investment firm Sixth Street acquiring the loans on Kiavi's balance sheet.

The acquisition is expected to add more than $7 billion in annual first-lien lending volume to Figure Connect and over $100 million in monthly flow to Democratized Prime, its blockchain-native warehouse marketplace. Kiavi originated over $30 billion in loans since launching as LendingHome in 2013 and reported more than $250 million in revenue and $100 million in EBITDA last year.