What happened in Figure’s $717 million acquisition of Kiavi?

Figure agreed to acquire AI-powered real estate lender Kiavi for $717 million. The deal is expected to add more than $7 billion in annual loan volume to Figure’s marketplace and strengthen its push into blockchain-based real estate finance. The transaction also includes Kiavi’s balance sheet assets through a joint venture with Sixth Street.

Why does the Kiavi acquisition matter for Figure?

The acquisition expands Figure’s presence in residential real estate lending and gives it access to a market with roughly $200 billion in annual loan originations. Figure wants to move more traditional financial assets onto blockchain infrastructure, and Kiavi’s loan flow could help accelerate that strategy.

Kiavi provides financing to residential property investors, particularly those who buy, renovate and rent homes. Its products include Residential Transition Loans and Debt Service Coverage Ratio (DSCR) loans, which are commonly used by real estate investors.

How much additional business could Kiavi bring to Figure?

Figure expects Kiavi to contribute more than $100 million in monthly marketplace flow and over $7 billion in annual loan volume. That additional scale could increase activity on Figure’s blockchain-based lending marketplace and support future revenue growth.

What is real-world asset (RWA) tokenisation?

Real-world asset tokenisation is the process of representing traditional assets such as loans, property or bonds on a blockchain. Figure says it already accounts for about 75% of real-world asset tokenisation activity, and the Kiavi acquisition is designed to expand that position further.

How does artificial intelligence fit into this deal?

Both companies use AI as a core part of their operations. Kiavi uses AI for underwriting, property valuation and document analysis, while Figure plans to integrate those capabilities into its broader platform and deploy Kiavi within its Adaptor onboarding system.

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Figure bets $717M on Kiavi tokenisation push

Written by Isaac FrancisPublished Jun 12, 2026, 2:24 AM

Figure has agreed to acquire AI-powered real estate lender Kiavi for $717 million, a move expected to add more than $7 billion in annual loan volume and accelerate the tokenisation of residential real estate assets.

The transaction includes Kiavi’s balance sheet assets through a joint venture with investment firm Sixth Street and is expected to significantly expand Figure’s blockchain-based lending marketplace.

“Figure is relentless in our pursuit of moving the capital markets onto blockchain rails,”

Said Figure chief executive, Michael Tannenbaum.

Kiavi specialises in financing residential property investors through products including Residential Transition Loans and Debt Service Coverage Ratio loans, giving Figure access to a market estimated to generate around $200 billion in annual originations.

Tannenbaum said the acquisition represents another major step forward for tokenisation, first-lien lending expansion and the company’s growing artificial intelligence platform, with Kiavi expected to contribute more than $100 million in monthly marketplace flow, and following the announcement Figure’s share price was unchanged as the company remains privately held.

The acquisition aligns with Figure’s broader strategy of migrating traditional financial assets onto blockchain infrastructure, with the company claiming approximately 75% of real-world asset tokenisation activity across the sector.

Kiavi’s AI capabilities for underwriting, property valuation and document analysis will also support Figure’s AI initiatives, including the rollout of its Adaptor platform, which is designed to streamline lender onboarding and standardise data across its marketplace.