FIGUREAction Figure Price

On June 11, GlobeNewswire reported that blockchain financial platform Figure Technology Solutions has signed an agreement to acquire the AI-driven residential real estate loan platform Kiavi for a total transaction price of $717 million. A joint venture formed by Sixth Street and Figure will acquire Kiavi's balance sheet assets. Figure expects Kiavi to add over $7 billion in transaction volume annually. After the transaction is completed, Kiavi's CEO Arvind Mohan will join Figure as Chief Business Officer. Kiavi is known as an AI-driven residential real estate investment loan platform, with an annual loan issuance scale exceeding $30 billion. Upon completion of the transaction, its residential transitional loan and rental loan business will be integrated into Figure's on-chain capital market system.

On June 11, blockchain financial platform Figure Technology Solutions (NASDAQ: FIGR) announced it has reached an acquisition agreement with real estate tech lending platform Kiavi, completing the transaction for $717 million and acquiring its loan portfolio through a joint venture structure. According to the announcement, Kiavi is an AI-driven residential real estate investment loan platform with an annual loan issuance scale exceeding $30 billion. Upon completion of the transaction, its residential transitional loans and leasing loan business will be integrated into Figure's on-chain capital market system. Figure stated that this acquisition will add approximately $7 billion in annualized loan volume to its 'Figure Connect' marketplace and bring over $100 million in monthly cash flow to its 'Democratized Prime' platform, while further strengthening its position in the first mortgage sector. The transaction structure indicates that Kiavi's assets will undergo a native migration through blockchain market infrastructure to reduce financing and transaction costs, maintaining a light capital, high-profit model. Additionally, Figure will apply its AI products for the first time in this asset class to facilitate data and asset matching processes between agents.

On May 6, Figure Technology Solutions (FIGR), a blockchain company led by former SoFi CEO Mike Cagney, plans to challenge Fannie Mae and Freddie Mac in the first-lien mortgage sector. Figure has reduced loan issuance costs by 91% using its blockchain platform, posing a challenge to the giants of the U.S. first-lien mortgage market. The company offers rapid services, with home equity line of credit (HELOC) applications approved in 5 minutes and funds available within 3 days, targeting the sub-$300,000 loan market. Figure is transitioning to a market model, expecting adjusted EBITDA margins to reach 80-85%, while the company is negotiating with ConsenSys' MetaMask for DeFi protocol integration.