On Wednesday morning, Figure Technology Solutions announced it would acquire fix-and-flip lender Kiavi, a move executives say will add about 40% to Figure’s first-lien volume and extend its lead in real-world asset tokenization.

The move marks Figure’s first acquisition and is expected to close in August, according to a company spokesperson. Under the agreement, Figure will acquire Kiavi’s technology and operating platform, while a joint venture formed by Figure and investment firm Sixth Street will acquire Kiavi’s balance-sheet assets.

In a note to investors, Keefe, Bruyette & Woods said that the deal was viewed favorably as it expands Figure details ⇒

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