Pagaya Technologies., a global leader in AI-powered financial solutions, announced the successful closure of two asset-backed securities (ABS) transactions—PAID 2024-10 and RPM 2024-3—amounting to $1 billion. This milestone includes the company’s fourth AAA-rated personal loan ABS transaction and its first AA-rated auto ABS transaction. Notably, 28 unique investors, predominantly repeat participants, contributed to the oversubscribed deals, showcasing sustained confidence in Pagaya's AI-enabled consumer credit assets. The transactions featured notes backed by personal and auto loans originating from Pagaya's extensive network of lending partners, emphasizing its ability to deliver tailored, market-efficient structures for institutional buyers.
Since 2018, across 62 ABS transactions, Pagaya has raised over $25.2 billion establishing itself as the leading U.S. personal loan ABS issuer by volume. With offices in New York and Tel Aviv, Pagaya leverages machine learning, a vast data network, and AI-driven methodologies to provide innovative credit and real estate solutions. Ralph L. Leung, Pagaya’s COO, highlighted the company’s capacity to scale AI-driven assets while reducing risk and funding costs. As a trusted partner to financial institutions, Pagaya continues to enhance access to transformative financial products and services, reshaping the financial ecosystem and driving efficiency in consumer credit markets.
