Figure Technology to buy AI lender Kiavi for $717M to expand tokenized loan rails

Figure Technology Solutions (NASDAQ:FIGR) announced a definitive agreement to acquire Kiavi, an AI-powered lending platform tailored for residential real estate investors, in a transaction valued at $717 million.

The transaction features a structural partnership with Sixth Street, a prominent global investment firm.

A newly formed joint venture between Figure and Sixth Street will absorb Kiavi’s balance sheet assets by directly purchasing loans from the entity, keeping the post-acquisition operating model asset-light.

The strategic move comes nine months after Reno, Nevada-based Figure completed its initial public offering on the Nasdaq.

San Francisco-based Kiavi specializes in automated underwriting for property investors, offering short-term Residential Transition Loans (RTL)—frequently used for property rehabilitation—alongside long-term rental Debt Service Coverage Ratio (DSCR) loans.

The platform enters the deal backed by strong financial momentum, having recorded over $250 million in revenue and more than $100 million in EBITDA during its previous fiscal year.

Following the completion of the acquisition, Kiavi Chief Executive Officer Arvind Mohan will transition to Figure’s executive leadership team as Chief Business Officer.