Particle.news
Download on the App Store
12 ARTICLES
·
last wk.

Figure to Buy Kiavi for $717 Million to Scale Tokenized First‑Lien Lending

Figure says the acquisition will move high-volume investor loans onto its blockchain rails to speed onboarding with Adaptor AI.

Image
Image
Figure
Figure buys kiavi for $717m as it targets $200 billion lending market

Overview

  • Figure and Kiavi signed a definitive agreement announced June 10, 2026, under which Figure will buy Kiavi’s technology and operating business while a Figure–Sixth Street joint venture will acquire Kiavi’s balance-sheet loans.
  • Figure plans to fund the deal with about $538 million from a senior unsecured note issuance and roughly $179 million from Sixth Street plus $3 billion in forward purchase commitments from Sixth Street.
  • The companies say the transaction will add more than $7 billion a year in first-lien originations to Figure Connect and more than $100 million per month of flow to Democratized Prime.
  • Kiavi’s platform will be the first large use case for Figure’s Adaptor AI and Kiavi CEO Arvind Mohan is expected to join Figure as chief business officer after the close.
  • Figure projects the combined business will be accretive to earnings, target a roughly 60% medium-term EBITDA margin, and return unlevered cash in under four years while expanding tokenized securitization of investor mortgage products that remain sensitive to local housing and renovation risks.