Figure has completed its previously announced acquisition of Kiavi, an AI real estate lending platform, according to ChainCatcher. The deal covers Kiavi’s technology and operating platform, along with certain other assets. Figure said Kiavi’s brand, platform, and technology will be folded into its network of more than 480 ecosystem partners, while its blockchain-native marketplace, Figure Connect, will be used to broaden the reach of the lending technology involved in the transaction.
The acquisition also brings a management change. Kiavi Chief Executive Officer Arvind Mohan is joining Figure as chief business officer. Figure had disclosed earlier that the total consideration for the Kiavi purchase would be $717 million. To support the acquisition, the company planned a private offering of $600 million in senior notes. Figure trades on Nasdaq under the ticker FIGR.
Figure said it has completed its previously announced acquisition of AI real estate lending platform Kiavi.
Under the deal, Figure acquired Kiavi’s technology and operating platform, as well as certain other assets. Kiavi’s brand, platform, and technology will be integrated into Figure’s network of more than 480 ecosystem partners. Figure also said the lending technology will gain broader distribution through Figure Connect, its blockchain-native marketplace.
On the management side, Kiavi Chief Executive Officer Arvind Mohan will join Figure as chief business officer.
Figure had previously said it would acquire Kiavi for a total price of $717 million and planned to fund the transaction in part through a private offering of $600 million in senior notes. Figure is listed on Nasdaq under the ticker FIGR.
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