Figure said on September 1, 2026, that it closed its acquisition of Kiavi, adding the residential transition lending platform and its team to Figure’s home equity marketplace. The company confirmed the completion in a post on X and a newsroom post published the same day.
In the newsroom post, Figure co-founder and executive chairman Mike Cagney described the transaction as a combination of the two lending platforms. Figure’s post on X said Kiavi’s team would join the company.
Figure’s cloud-based marketplace supports retail and wholesale lending partners that originate loans under their own brands. It handles functions including application submission, information verification, underwriting, electronic offers and documentation. Figure earns volume-based technology and processing fees and services most loans facilitated through the platform.
Figure announced the definitive agreement on January 13, 2026. At the time, the company said Kiavi had originated more than $15 billion in loans. Completion was projected for the first half of 2026, provided required regulatory approvals and other customary conditions were met.
Figure’s August 2026 filing put the planned cash consideration at approximately $532.4 million for Kiavi equity holders, subject to adjustments. Figure also closed a $600 million offering of 8.5% senior notes due 2031, generating $586.5 million in net proceeds intended partly to fund the consideration.
Figure’s legacy group was formed in 2018. Its filing identifies Cagney and June Ou as co-founders. For the six months ended June 30, 2026, Figure reported $7.16 billion in consumer-loan marketplace volume, $392.6 million in net revenue and $132.5 million in net income.
