Figure completes $717M acquisition of mortgage lender Kiavi

Blockchain-based lending platform Figure said it has completed its $717 million acquisition of U.S. real estate lender Kiavi. The deal brings Kiavi’s lending technology and operating platform into Figure’s blockchain-based lending marketplace. Kiavi is expected to add more than $7 billion in annual new loan volume to Figure Connect, the company’s lending platform, and supply more than $100 million in loans each month to its on-chain lending platform, Democratized Prime.