Figure Technology Solutions will acquire Kiavi in a $717 million deal that increases its exposure to real estate investor loans and the first-lien mortgage market, the companies announced Wednesday.

Under the deal, Figure will acquire Kiavi’s technology and operating platform, while a joint venture between Figure and global investment firm Sixth Street will purchase Kiavi’s balance-sheet assets.

Figure said the transaction will add more than $7 billion per year in new first-lien volume to its Figure Connect marketplace and more than $100 million in monthly volume to Democratized Prime, its on-chain warehouse platform. Kiavi’s products include short-term details ⇒

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