Figure Tech Acquires Kiavi for $717M in Real Estate Lending Deal

Figure Technology Solutions has significantly expanded its footprint in the real estate finance sector with the acquisition of Kiavi, a prominent AI-powered lender for real estate investors. The deal, valued at $717 million, integrates Kiavi's substantial origination capabilities with Figure's blockchain-based infrastructure, aiming to create a more efficient and scalable lending ecosystem.

This strategic move injects approximately $7 billion in annual first-lien loan volume into Figure's marketplace, known as Figure Connect. Furthermore, it channels over $100 million in monthly loan flow to its Democratized Prime offering. Kiavi, which specializes in fix-and-flip and debt service coverage ratio (DSCR) loans for residential property investors, demonstrated robust performance by originating an impressive $7.8 billion in loans during 2025. The company's financial strength was further underscored by a significantly oversubscribed securitization in February 2026, which raised $350 million and unlocked an additional $1.2 billion in funding capacity.

The acquisition positions Figure to capitalize on the persistent demand in the non-qualified mortgage (non-QM) lending space, where supply often lags behind borrower interest. The transaction's valuation, representing roughly one-tenth of Kiavi's annual origination volume, provides Figure with direct and immediate access to this lucrative market segment. This integration is expected to unlock considerable operational synergies, enhancing both loan origination and servicing processes through Figure's proprietary Provenance Blockchain.

This acquisition also marks a pivotal moment for Figure's technological advancements, serving as the inaugural deployment of its AI-driven product, Adaptor. This innovative tool is designed to automate agent-to-agent onboarding across the entire platform, promising to streamline workflows and reduce friction in the lending process. Figure has previously explored strategic partnerships to enhance market liquidity, notably collaborating with Sixth Street in early 2025 to inject capital into the non-agency mortgage market.

The integration of Kiavi's established origination platform and its deep understanding of investor needs is anticipated to accelerate Figure's growth trajectory. By combining Kiavi's origination expertise with Figure's blockchain technology, the combined entity is poised to offer a more streamlined, transparent, and potentially lower-cost lending solution. This move signals a broader trend within financial services towards leveraging technology to enhance efficiency and expand access to credit for underserved market segments.

The real estate lending sector continues to evolve, with technology adoption playing a crucial role in navigating market complexities. Figure's acquisition of Kiavi underscores the increasing importance of data analytics and AI in assessing risk and optimizing loan performance. The non-bank lending segment, in particular, has seen substantial growth, driven by its agility and ability to cater to borrowers who may not fit traditional lending criteria. Figure's strategic integration of Kiavi's operations is a clear indicator of its ambition to become a dominant force in this dynamic market.