Figure completes the acquisition of Kiavi for $717 million

Blockchain Capital Markets Figure (NASDAQ: FIGR) announced that it has completed the acquisition of the previously announced AI real estate loan platform Kiavi. Figure acquired Kiavi's technology and operating platform along with some other assets. Kiavi's brand, platform, and technology will be integrated into Figure's network of over 480 ecosystem partners and will expand the coverage of relevant loan technologies through its blockchain-native marketplace Figure Connect.

Kiavi's CEO Arvind Mohan will join Figure as Chief Business Officer. Previously, Figure planned to acquire Kiavi for a total price of $717 million and intended to issue a total of $600 million in preferred notes through a private placement for the acquisition of Kiavi.