Key Takeaways
- • Figure Technology Solutions has agreed to acquire Kiavi, the nation's #1 residential transition loan (RTL) lender, in a $717 million transaction announced June 10, 2026, pairing blockchain infrastructure with AI-powered real estate lending.
- • The deal structure involves Figure acquiring Kiavi's technology and operating platform, while a joint venture between Figure and Sixth Street Partners acquires Kiavi's balance sheet assets, preserving a capital-light model for Figure.
- • Kiavi's acquisition adds over $7 billion in new annual first-lien volume to Figure Connect marketplace and more than $100 million monthly to Democratized Prime, representing a $200 billion annual addressable origination opportunity for residential real estate investor financing.
- • The transaction brings residential transition loans (RTL) and debt service coverage ratio (DSCR) loans natively onto blockchain marketplace rails, enabling cost efficiencies, reduced friction, and maintenance of high-margin operations.
- • Kiavi's AI platform will feature Figure's new Adaptor product, enabling fully agentic agent-to-agent onboarding as the first use case for this AI technology on the blockchain marketplace.
Summary
Figure Technology Solutions has closed its acquisition of Kiavi, an AI-powered residential real estate lending platform, in a $717 million transaction that significantly expands Figure's blockchain-native capital marketplace. Announced on June 10, 2026, the deal consolidates the nation's leading residential transition loan lender with Figure's tokenized asset origination and trading infrastructure, creating an integrated solution for real estate investor financing at scale.
The transaction employs a structured approach designed to preserve Figure's capital-light business model while capturing operational synergies. Figure acquires Kiavi's technology platform and operating infrastructure, while a joint venture between Figure and Sixth Street Partners—a leading global investment firm—purchases Kiavi's balance sheet assets. This bifurcated structure allows Figure to maintain margin-focused operations while Sixth Street provides balance sheet capacity and capital support.
Kiavi's portfolio encompasses residential transition loans (short-term capital for property acquisition and renovation) and debt service coverage ratio (DSCR) loans (long-term rental property financing), both product categories growing within Figure's existing marketplace. The acquisition immediately adds over $7 billion in annual first-lien origination volume to Figure Connect and generates more than $100 million monthly in Democratized Prime revenue. The combined addressable opportunity for residential real estate investor financing reaches $200 billion annually.
By bringing Kiavi's AI-powered lending operations onto Figure's blockchain rails, the transaction enables native tokenization of these loan assets, extracting meaningful cost efficiencies and operational friction reduction while maintaining high-margin economics. The integration positions Kiavi's AI platform as the inaugural use case for Figure's Adaptor product—a fully agentic agent-to-agent onboarding system that automates loan origination workflows on the blockchain marketplace, advancing Figure's automation capabilities in the residential real estate credit sector.
The transaction employs a structured approach designed to preserve Figure's capital-light business model while capturing operational synergies. Figure acquires Kiavi's technology platform and operating infrastructure, while a joint venture between Figure and Sixth Street Partners—a leading global investment firm—purchases Kiavi's balance sheet assets. This bifurcated structure allows Figure to maintain margin-focused operations while Sixth Street provides balance sheet capacity and capital support.
Kiavi's portfolio encompasses residential transition loans (short-term capital for property acquisition and renovation) and debt service coverage ratio (DSCR) loans (long-term rental property financing), both product categories growing within Figure's existing marketplace. The acquisition immediately adds over $7 billion in annual first-lien origination volume to Figure Connect and generates more than $100 million monthly in Democratized Prime revenue. The combined addressable opportunity for residential real estate investor financing reaches $200 billion annually.
By bringing Kiavi's AI-powered lending operations onto Figure's blockchain rails, the transaction enables native tokenization of these loan assets, extracting meaningful cost efficiencies and operational friction reduction while maintaining high-margin economics. The integration positions Kiavi's AI platform as the inaugural use case for Figure's Adaptor product—a fully agentic agent-to-agent onboarding system that automates loan origination workflows on the blockchain marketplace, advancing Figure's automation capabilities in the residential real estate credit sector.
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