Watch for the deal closing timeline and integration milestones — Figure's webcast today at 8:30am ET is the immediate catalyst. Monitor future quarterly disclosures for accretion realization and margin confirmation; the transaction's success hinges on maintaining the 60% EBITDA margin target and achieving payback in under four years. The addition of Kiavi's volume significantly scales Figure's first-lien marketplace, a key strategic pivot.
Price Chart
Executive Summary
Figure Technology Solutions announces a definitive agreement to acquire Kiavi's technology and operating platform in a total transaction valued at $717 million. A joint venture between Figure and Sixth Street will acquire Kiavi's balance sheet assets. The deal adds over $7 billion in annual first-lien volume to Figure's marketplace and is expected to be accretive to EPS with an unlevered cash payback under four years. Kiavi had over $250 million in revenue and over $100 million in EBITDA last year.
Key Financial Metrics
Key Facts
- Total transaction purchase price is $717 million.
- Acquisition adds over $7 billion in new annual first-lien volume to Figure Connect marketplace.
- Kiavi reported over $250 million in revenue and over $100 million in EBITDA last year.
- Figure reaffirms 60% medium-term EBITDA margin target.
- Transaction expected to be accretive to EPS with an unlevered cash payback in less than four years.
- Kiavi's CEO Arvind Mohan will join Figure as Chief Business Officer.
- Sixth Street is partnering via a joint venture to acquire Kiavi's balance sheet assets.
- Kiavi has funded over $30 billion in loans to date.
Financial Impact
$717 million total purchase price; Kiavi contributed over $250M revenue and $100M EBITDA in its last fiscal year; adds >$7B annual first-lien volume to Figure's marketplace.
Risk Factors
- Integration risk — combining platforms and teams could delay projected synergies.
- Execution risk on maintaining 60% EBITDA margin target with added scale.
- Real estate and interest rate sensitivity of RTL and DSCR loan products.
- Regulatory risk in lending and digital asset operations.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3309592 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | Press Release | $36.57 $33.71 | ▼ −7.82% | ▼ −7.32% | $28.53 (−21.99%) |
Sep 10, 2026 23d ago | 144 | $36.57 $33.71 | ▼ −7.82% | ▼ −7.32% | $28.53 (−21.99%) |
Sep 1, 2026 4w ago | 8-K | $33.70 $38.12 | ▲ +13.12% | ▲ +13.03% | $28.53 (−15.34%) |
Aug 18, 2026 6w ago | Insider Cluster | $35.52 $41.14 | ▲ +15.82% | ▲ +16.02% | $28.53 (−19.68%) |
Aug 16, 2026 6w ago | Institutional Cluster | $35.76 $38.64 | ▲ +8.07% | ▲ +9.26% | $28.53 (−20.21%) |
Jul 15, 2026 11w ago | Press Release | $30.87 $29.24 | ▲ +5.28% | ▲ +3.61% | $28.53 (+7.58%) |
Jul 7, 2026 12w ago | Press Release | $30.65 $29.96 | ▼ −2.25% | ▼ −3.11% | $28.53 (−6.92%) |
Jul 6, 2026 12w ago | 8-K | $34.41 $31.80 | ▼ −7.58% | ▼ −8.07% | $28.53 (−17.09%) |
Jun 11, 2026 16w ago | Institutional Cluster | $28.15 $27.40 | ▼ −2.66% | ▼ −3.10% | $28.53 (+1.35%) |
Jun 11, 2026 16w ago | Institutional Cluster | $28.15 $27.40 | ▼ −2.66% | ▼ −3.10% | $28.53 (+1.35%) |
US Market Status
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