Pagaya Closes $600 Million Consumer Loan ABS, Reflecting Strong Capital Markets Demand to Start the Year

Pagaya Technologies (NASDAQ: PGY) has successfully closed a $600 million AAA-rated personal loan ABS transaction (PAID 2025-1), which was oversubscribed and upsized from the original $500 million target.

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01/30/2025 - 08:30 AM

7th consecutive AAA-Rated Personal Loan ABS transaction
Pagaya remains the #1 ABS issuer of personal loans in the U.S.

NEW YORK--(BUSINESS WIRE)-- Pagaya Technologies LTD. (NASDAQ: PGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of a $600 million AAA-rated personal loan ABS transaction (PAID 2025-1).

A total of 32 unique investors participated across the new personal loan transaction, the majority of which were repeat investors. Additionally, PAID 2025-1 was substantially oversubscribed and upsized from its original size of $500 million, reflecting continued strong capital markets demand for Pagaya’s robust, AI-enabled consumer credit assets. Since 2018, Pagaya has raised over $26.6 billion across 65 ABS transactions to fund loan originations across multiple products, including personal loan and auto.

“This transaction continues our benchmark programmatic issuance activity and shows how our unique funding model, AI capabilities and relationships across our partners and investors provide ample size for thoughtful investment in consumer credit with lower cost of capital,” said Sahil Chandiramani, Pagaya’s Head of Capital Markets. “This AAA-rated transaction is the first ABS deal of 2025 and we expect to continue our track record of success in the capital markets throughout 2025.”

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 an AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate products 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.