Figure Technology Acquires Real Estate Lender Kiavi for $717M
2026-06-10 · lending
Blockchain-based capital marketplace Figure Technology has agreed to buy Kiavi, an AI-powered residential real estate lending platform, for $717 million. The deal consolidates two tech-forward lenders and signals continued consolidation in the non-bank mortgage origination space.
Product Blueprint BridgeStack — a white-label loan origination intelligence layer for independent mortgage brokers and small non-bank lenders that automates underwriting decisioning, borrower document parsing, and investor appetite matching for fix-and-flip and DSCR loans, surfacing the exact capital sources most likely to fund a specific deal in under 60 seconds.
Why it matters The Figure-Kiavi consolidation signals the top of the non-bank residential investment lending market is concentrating fast, leaving the long tail of independent originators underserved and under-tooled — the same dynamic that created the ISV opportunity in payments a decade ago. DSCR and bridge loan volume has tripled since 2021 and smaller originators have no AI underwriting layer of their own.
Target user Independent mortgage brokers and boutique hard money lenders (1-10 person shops) who originate $5M-$50M annually in residential investment property loans and are losing deals because they can't match the speed or decisioning sophistication of consolidated platforms like Figure-Kiavi.
Go-to-market Build an MVP that ingests a 1003, rent roll, and appraisal PDF and returns a structured credit memo plus 3 ranked capital source matches in under 2 minutes; recruit the first 10 broker customers from active BiggerPockets and AIME forum communities offering free access for 90 days in exchange for feedback on match quality.
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