Figure buys Kiavi for $717 million to tokenize estate loans

Figure Technology Solutions, a Nasdaq-listed company specializing in blockchain-based lending, has agreed to acquire the AI-powered real estate lender Kiavi in a $717 million deal announced on June 10. The transaction is designed to significantly expand Figure's footprint in tokenizing real-world assets, specifically residential real estate debt.

Under the agreement, Figure will acquire Kiavi's technology and operating platform. A separate joint venture formed between Figure and the investment firm Sixth Street will purchase Kiavi's balance sheet assets, which consist of its loan portfolio. This structure allows Figure to integrate Kiavi's lending flow onto its blockchain infrastructure without taking the loans onto its own corporate balance sheet.

Kiavi originates loans for residential real estate investors, including short-term fix-and-flip loans and longer-term debt service coverage ratio (DSCR) loans for rental properties. The company generated approximately $7.8 billion in loan volume in 2025, according to one report, and is expected to add roughly $7 billion in annual volume to Figure's platforms. This includes over $100 million in monthly flow expected to land on Figure's...