Figure Technology Solutions Finalizes $717 Million Acquisition of Kiavi

The merger brings Kiavi’s platform and assets under the Figure umbrella, with the technology set to be deployed across an ecosystem of over 480 partners. To facilitate the acquisition, Figure leveraged proceeds from a $600 million senior note offering completed in July, paying roughly $590 million in net cash at closing. As part of the transaction, a joint venture between Figure and investment firm Sixth Street acquired existing loans from Kiavi’s balance sheet.

Kiavi CEO Arvind Mohan will transition to Figure as chief business officer, tasked with overseeing the integration of the platform across the company’s network. Figure CEO Michael Tannenbaum noted that the move is intended to accelerate the firm’s marketplace strategy within the $35 trillion home equity market. Beyond the immediate integration, the company plans to utilize Kiavi’s lending products to bolster its first-lien mortgage volume, which is projected to represent more than 40% of its total marketplace activity by 2027. Figure intends to provide updated third-quarter guidance to reflect Kiavi's operational contribution during its next earnings report.