Figure will acquire AI real estate loan platform Kiavi for $717 million

On June 11, GlobeNewswire reported that blockchain financial platform FigureTechnology Solutions signed an agreement to acquire Kiavi, an AI-driven residential real estate loan platform, with a total transaction price of US$717 million. The joint venture between SixthStreet and Figure will acquire Kiavi's balance sheet assets. Figure expects Kiavi to increase transaction volume by more than $7 billion annually. After the transaction is completed, Kiavi CEO Arvind Mohan will join Figure as chief commercial officer. It is reported that Kiavi is an AI-driven residential real estate investment loan platform with an annual loan issuance scale of more than US$30 billion. After the transaction is completed, its residential transitional loan and lease loan business will be integrated into Figure's on-chain capital market system.