Figure Technology Solutions Completes $717 Million Acquisition of Kiavi

According to Cryptopolitan, Figure Technology Solutions has completed the $717 million acquisition of U.S. residential real estate lending institution Kiavi. The actual cash consideration by Figure is approximately $590 million, financed through the issuance of $600 million in senior notes. Post-acquisition, Kiavi is expected to add over $7 billion annually in primary mortgage volume to Figure Connect, with more than $100 million flowing monthly into Figure's on-chain lending platform, Democratized Prime. Kiavi CEO Arvind Mohan will assume the role of Chief Business Officer at Figure.