Blockchain-native capital marketplace Figure Technology Solutions said on Wednesday it has entered a definitive agreement to acquire Kiavi’s technology and operating platform, while a joint venture between Figure and Sixth Street will purchase Kiavi’s balance sheet assets for a combined $717 million.
The split structure lets Figure absorb Kiavi’s residential transition loan and DSCR origination capabilities while keeping the existing loan book off its own balance sheet. Sixth Street, which manages over $130 billion in assets, will hold those loans through the joint venture.
Figure said the deal will add more than $7 billion in annual first-lien volume to its Figure Connect marketplace and over $100 million in monthly flow to Democratized Prime, its on-chain warehouse marketplace. The company’s first-lien segment grew roughly 2.5 times year-over-year in 2025, and Figure projected its consumer marketplace volume will reach 40%+ first-lien by full-year 2027 with Kiavi onboard.
Kiavi, founded as LendingHome in 2013, originated $7.8 billion in loans in 2025 and reported over $250 million in revenue and over $100 million in EBITDA for the year, according to Figure’s release.
Kiavi CEO Arvind Mohan will join Figure as Chief Business Officer after the deal closes.
