Key Takeaways
- • Figure Technology Solutions has agreed to acquire Kiavi, an AI-powered residential real estate lending platform, in a $717 million transaction announced June 10, 2026, with Figure acquiring Kiavi's technology and operating platform while a joint venture between Figure and Sixth Street acquires Kiavi's balance sheet assets.
- • The acquisition brings the #1 Residential Transition Loan (RTL) lender into Figure's blockchain-native marketplace, adding over $7 billion in new annual first-lien volume to Figure Connect and more than $100 million monthly to Democratized Prime.
- • Kiavi's product portfolio—including short-term RTL loans and long-term Debt Service Coverage Ratio (DSCR) loans for residential real estate investors—represents a $200 billion annual addressable origination opportunity to be tokenized on Figure's blockchain rails.
- • The transaction will deploy Figure's newest AI product, Adaptor, enabling fully agentic, agent-to-agent onboarding as the first use case in this asset class, combining AI-powered lending with blockchain infrastructure.
- • Sixth Street Partners, a leading global investment firm, co-invests alongside Figure in the balance sheet acquisition, signaling institutional confidence in the combined platform's private credit and tokenized asset distribution capabilities.
Summary
Figure Technology Solutions (Nasdaq: FIGR; OPEN: FGRS), a blockchain-native capital marketplace for tokenized assets, has entered into a definitive agreement to acquire Kiavi, a prominent AI-powered lending platform serving residential real estate investors. The total transaction valuation is $717 million, structured as a two-part deal: Figure acquires Kiavi's technology and operating platform, while a joint venture between Figure and institutional investor Sixth Street acquires Kiavi's loan balance sheet assets. The announcement was made on June 10, 2026.
Kiavi operates as a specialized lending platform providing capital to residential real estate investors for property acquisition, renovation, and rental operations. Its product suite comprises short-term Residential Transition Loans (RTLs)—positioning Kiavi as the #1 RTL lender—and longer-duration Debt Service Coverage Ratio (DSCR) loans for rental property financing. The acquisition strategically merges this lending capability with Figure's blockchain-native platform infrastructure, enabling the tokenization of real estate credit assets at scale.
The transaction delivers material scale to Figure's marketplace operations. The acquisition adds over $7 billion in new annual first-lien origination volume to Figure Connect and injects more than $100 million monthly into Democratized Prime. Kiavi's product set represents access to a $200 billion annual addressable origination opportunity, all of which will be migrated onto Figure's tokenized rails. This expansion strengthens Figure's positioning within the private credit and real estate lending sectors while advancing its stated mission to modernize capital markets through blockchain-based asset tokenization.
A significant innovation component is the deployment of Adaptor, Figure's newly developed AI product enabling fully agentic, agent-to-agent onboarding. This asset class will serve as the inaugural use case for this autonomous agent-to-agent workflow, combining Kiavi's AI-powered lending platform with Figure's blockchain and automation capabilities. The involvement of Sixth Street Partners—a leading global institutional investment firm acquiring balance sheet assets alongside Figure—underscores institutional validation of the combined platform's ability to distribute tokenized private credit at institutional scale.
Kiavi operates as a specialized lending platform providing capital to residential real estate investors for property acquisition, renovation, and rental operations. Its product suite comprises short-term Residential Transition Loans (RTLs)—positioning Kiavi as the #1 RTL lender—and longer-duration Debt Service Coverage Ratio (DSCR) loans for rental property financing. The acquisition strategically merges this lending capability with Figure's blockchain-native platform infrastructure, enabling the tokenization of real estate credit assets at scale.
The transaction delivers material scale to Figure's marketplace operations. The acquisition adds over $7 billion in new annual first-lien origination volume to Figure Connect and injects more than $100 million monthly into Democratized Prime. Kiavi's product set represents access to a $200 billion annual addressable origination opportunity, all of which will be migrated onto Figure's tokenized rails. This expansion strengthens Figure's positioning within the private credit and real estate lending sectors while advancing its stated mission to modernize capital markets through blockchain-based asset tokenization.
A significant innovation component is the deployment of Adaptor, Figure's newly developed AI product enabling fully agentic, agent-to-agent onboarding. This asset class will serve as the inaugural use case for this autonomous agent-to-agent workflow, combining Kiavi's AI-powered lending platform with Figure's blockchain and automation capabilities. The involvement of Sixth Street Partners—a leading global institutional investment firm acquiring balance sheet assets alongside Figure—underscores institutional validation of the combined platform's ability to distribute tokenized private credit at institutional scale.
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