Pagaya Raises More Than $1B Across Two New Asset-Backed Securitizations Deals
Portfolio Pulse from Benzinga Newsdesk
Pagaya Technologies LTD. (NASDAQ:PGY), a global technology company specializing in AI-driven financial solutions, announced the closing of two new asset-backed securitizations (ABS), RPM 2024-1 and PAID 2024-3, marking its 50th and 51st ABS deals. These deals raised over $1 billion, with $792 million from consumer loans and $238 million from auto loans. This achievement follows Pagaya's successful raise of $6.6 billion across all ABS transactions in 2023, maintaining its position as the leading personal loan ABS issuer in the U.S. The company has now raised nearly $2 billion year-to-date across four ABS transactions, with a total of $21 billion raised since inception. Pagaya's growth is supported by over 110 funding partners and recent partnerships with U.S. Bank and Exeter Finance.
March 13, 2024 | 12:37 pm
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Pagaya Technologies LTD. announced the closing of two new ABS deals, raising over $1 billion, following a successful $6.6 billion raise in 2023. The company continues to lead the U.S. personal loan ABS market.
The successful closing of two new ABS deals, raising over $1 billion, demonstrates Pagaya's strong market position and its ability to attract significant investment. This news is likely to be viewed positively by investors, reflecting the company's robust growth and leading position in the U.S. personal loan ABS market. The announcement follows a successful year in 2023, where Pagaya raised $6.6 billion across all ABS transactions, further solidifying its market leadership. The company's innovative AI-driven financial solutions and recent partnerships with U.S. Bank and Exeter Finance are likely to contribute to continued investor confidence and potential stock price appreciation in the short term.
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