Pagaya Strikes $1B Consumer Loan Agreement With Castlelake To Expand AI-Driven Loan Network
Portfolio Pulse from Benzinga Newsdesk
Pagaya Technologies (NASDAQ: PGY) has entered into a $1 billion consumer loan agreement with Castlelake, L.P. This deal will allow Castlelake to purchase up to $1 billion in consumer loans through Pagaya's AI-driven network over an initial 12-month term, with potential extensions. This agreement enhances Pagaya's funding capacity and diversifies its funding sources.
August 09, 2024 | 11:06 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Pagaya Technologies has secured a $1 billion consumer loan agreement with Castlelake, enhancing its funding capacity and diversifying its funding sources.
The $1 billion agreement with Castlelake significantly enhances Pagaya's funding capacity and diversifies its funding sources, which is likely to positively impact its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100