Figure Technology Solutions has completed its $717 million acquisition of Kiavi, an AI-powered real estate lending platform, bringing Kiavi’s lending business onto Figure’s blockchain infrastructure. The deal is expected to add more than $7 billion in annual first-lien loan volume to Figure Connect, while more than $100 million per month is set to flow into Figure’s on-chain lending platform, Democratized Prime. The transaction was split into two parts: Figure acquired Kiavi’s technology platform and operating assets, while a joint venture between Figure and Sixth Street acquired Kiavi’s loans. Figure’s cash outlay totaled about $590 million and was financed through the issuance of $600 million in 8.5% senior notes. Kiavi CEO Arvind Mohan has joined Figure as chief commercial officer.