Pagaya Announces $541 Million ABS, Its 7th Deal in 2023

$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

NEW YORK--(BUSINESS WIRE)--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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First published on Mon, Jun 12, 2023

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