Pagaya Announces $541 Million ABS, its 7th Deal in 2023
June 12 2023 - 8:30AM
Business Wire
- $3.4 Billion Raised in 2023
- More than $16 Billion in AI-Powered Asset-Backed
Securitizations Across 39 Deals Since 2018
- Pagaya is #1 issuer of personal loan ABS transactions in
US
Pagaya Technologies LTD. (NASDAQ: PGY) ("Pagaya" or “the
Company”), a global technology company delivering artificial
intelligence infrastructure for the financial ecosystem, today
announced the closing of PAID 2023-4, with $541M of capital raised,
its 39th asset-backed securitization (ABS) since 2018 and its 7th
in 2023. With its fully pre-funded model, where capital is raised
before loans are originated by Pagaya’s partners, Pagaya is
currently the number one issuer of personal loan ABS transactions
in the U.S.
In this transaction, qualified institutional buyers purchased
$541 million of asset-backed notes, consisting of unsecured
consumer loan assets. Pagaya has issued over $16bn in ABS
transactions since 2018, funding over $16bn in new loan
originations by US consumer lenders, all originated with the help
of Pagaya’s AI technology.
“As the leading issuer of personal loan ABS transactions in the
U.S., Pagaya's unique funding model, AI capabilities, and skilled
research and analytics teams provide scalable opportunities and
solutions to our partners and investors,” said Gal Krubiner,
Co-Founder and CEO. “This securitization demonstrates the continued
strength of and demand in Pagaya’s network to deliver consistent
value in the current macro environment.”
Pagaya consistently proves the efficacy of its technology and
network. This latest securitization showcases how Pagaya’s AI
network is uniquely positioned to source high-quality assets from a
wide range of partners and connect them with top institutional
investors, creating a win-win-win for all.
About Pagaya Technologies
Pagaya (NASDAQ: PGY) is a global technology company making
life-changing financial products and services available to more
people nationwide, as it reshapes the financial services ecosystem.
By using machine learning, a vast data network and a sophisticated
AI-driven approach, Pagaya provides comprehensive consumer credit
and residential real estate solutions for its partners, their
customers, and investors. Its proprietary API and capital solutions
integrate into its network of partners to deliver seamless user
experiences and greater access to the mainstream economy. Pagaya
has offices in New York and Tel Aviv. For more information, visit
pagaya.com.
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