Figure Completes Acquisition of AI Real Estate Lending Platform Kiavi

Blockchain capital markets company Figure, listed on Nasdaq under the ticker FIGR, said it has completed its previously announced acquisition of AI real estate lending platform Kiavi. According to Foresight News, Figure acquired Kiavi's technology and operations platform and certain other assets, and Kiavi's brand, platform, and technology will be integrated into Figure's network of more than 480 ecosystem partners through its blockchain-native market, Figure Connect, to expand the reach of its lending technology. Kiavi Chief Executive Officer Arvind Mohan will join Figure as chief business officer. According to Foresight News, Figure previously said it would acquire Kiavi for a total of $717 million and planned to issue $600 million of senior notes through a private placement to fund the acquisition.