Figure will acquire AI-powered mortgage lending platform Kiavi for $717 million.

CoinFeed reported on June 11 that, according to GlobeNewswire, blockchain financial platform Figure Technology Solutions has signed an agreement to acquire Kiavi, an AI-driven residential real estate lending platform, for a total transaction price of $717 million. A joint venture between Sixth Street and Figure will acquire Kiavi's balance sheet assets. Figure expects Kiavi to add over $7 billion in transaction volume annually. Following the transaction, Kiavi CEO Arvind Mohan will join Figure as Chief Commercial Officer. Kiavi is reportedly an AI-driven residential real estate investment lending platform with annual loan disbursements exceeding $30 billion.