Figure Closes Kiavi Deal to Add $7B Loans Onchain

Figure said on September 1 that it had closed its acquisition of residential-lending technology company Kiavi, a step that the fintech expects to add more than $7 billion in loan volume to its blockchain-native Figure Connect marketplace.

According to Figure CEO Michael Tannenbaum’s announcement, the platform will tokenize residential transition loans and debt-service coverage ratio loans as core marketplace products.

Figure Buys Kiavi Technology and Forms a JV Figure purchased Kiavi’s artificial-intelligence-powered technology platform.

The transaction also creates a joint venture with investment firm Sixth Street that will originate residential transition loans and sell them through Figure Connect. These short-term, property-backed loans are commonly used by real-estate investors to acquire and renovate homes.