Figure Technology Solutions has agreed to acquire Kiavi in a $717 million transaction, adding a sizable real estate lending platform to its push into tokenized finance. Under the announced structure, Figure will buy Kiavi’s technology and operating platform, while a joint venture formed by Figure and investment firm Sixth Street will separately acquire Kiavi’s balance sheet assets.
The transaction adds real estate lending scale to Figure’s existing blockchain marketplace. Figure operates as a non-bank provider of home equity lines of credit and runs Figure Connect and Democratized Prime, two platforms focused on tokenization and on-chain trading of consumer credit assets. By bringing Kiavi into that network, the company plans to widen the pool of real estate-backed assets available through its tokenized products.
Kiavi assets are set to move onto Figure’s blockchain rails
After closing, Figure said it intends to place Kiavi’s assets onto its blockchain infrastructure. That would cover loan origination, distribution of funding, and trading activity. The operational aim is simple: improve efficiency and lower costs.
Kiavi finances residential real estate investors through an AI-powered platform used for underwriting and loan management. Figure said combining those capabilities with its blockchain systems could improve capital flow across the lending ecosystem. Chief Executive Officer Michael Tannenbaum said the acquisition advances Figure’s goal of moving more financial activity onto blockchain infrastructure and also strengthens the company’s AI capabilities.
Figure expects billions in added annual volume
Figure said Kiavi is expected to contribute about $7 billion in annual volume. It also expects Kiavi to generate more than $100 million in monthly flow on Democratized Prime after integration. That makes the deal more than a platform purchase; it also gives Figure a large source of loan assets that can feed into its tokenized credit marketplace.
Kiavi Chief Executive Officer Arvind Mohan described the transaction as a significant step for the asset class and is expected to join Figure as Chief Business Officer once the deal closes. Figure also said it currently accounts for roughly 75% of real-world asset tokenization activity, and adding Kiavi could strengthen that position in tokenized credit markets.
Recent results show rapid lending growth
Figure described Kiavi as a high-margin, asset-light platform that supports its medium-term target of a 60% EBITDA margin. The company also pointed to recent financial results. In the first quarter of 2026, Figure reported $167 million in adjusted net revenue, up 92% from a year earlier, while loan volume rose 113% year over year to $2.9 billion.
Based on the details released so far, the acquisition adds major real estate lending volume to Figure’s blockchain ecosystem and deepens its effort to bring more real estate-backed assets into tokenized market infrastructure.