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
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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.
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