Figure bought Kiavi platform for $717 million

Figure Technology Solutions has completed the acquisition of Kiavi, the real estate lending institution, for a total of $717 million. According to Figure ' s announcement of 1 September, the company acquired Kiavi ' s technology and operating platform, as well as other assets under the merger agreement signed in June. It was almost three months before Figure agreed to acquire Kiavi. Figure expects Kiavi to bring more than $7 billion in annual lending to its market. Kiavi finances residential real estate investors through short-term residential transition loans and long-term debt service coverage loans. The acquisition will integrate Kiavi ' s brands, technologies and platforms into the Figure network of more than 480 active eco-partners. Chief Executive Officer Arvind Mohan of Kiavi will join Figure as Chief Commercial Officer and will be responsible for promoting the platform in the Figure ecosystem。