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Pagaya Techologies closes a new ABS

Pagaya Technologies LTD. has announced the closing of PAID 2023-6, its 43rd asset-backed securitization (ABS), and its 11th in 2023.

Investors purchased $594 million in notes, which will be backed by personal loans originated by consumer loan providers within Pagaya’s network. The company operates with a fully pre-funded model, meaning that capital is raised before Pagaya’s partners originate loans.

Currently, Pagaya is the leading issuer of personal loan ABS transactions in the United States.

Pagaya is a global company utilizing artificial intelligence to provide financial solutions in the personal loan and residential real estate sectors.

The company is committed to making financial products and services accessible to a broader audience, reshaping the financial services ecosystem by leveraging machine learning, an extensive data network, and an AI-driven approach. Pagaya offers comprehensive consumer credit and residential real estate solutions to its partners, their customers, and investors.

Additionally, Pagaya offers a proprietary API and capital solutions that seamlessly integrate into its partner network, delivering a smooth user experience and greater access to the traditional economy. The company has offices in New York and Tel Aviv.

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Managing Director of Credit Village, Roberto Sergio has more than 20 years of experience in NPL and distressed debt in the Italian and International market. He is the editor of the NPL column in Credit Village Magazine and the director of Credit Village's National NPL Market Observatory.

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