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Articles from Pagaya Technologies LTD.

Pagaya Closes $600 Million Consumer Loan ABS, Reflecting Strong Capital Markets Demand to Start the Year
Pagaya Technologies LTD. (NASDAQPGY) ("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).
By Pagaya Technologies LTD. · Via Business Wire · January 30, 2025
Pagaya Announces Appointment of Two Fintech Veterans as Independent Directors to its Board
Pagaya Technologies Ltd. (“Pagaya”) (NASDAQPGY), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today the appointment of two new independent directors to the Company's Board of Directors - Asheet Mehta and Alison Davis.
By Pagaya Technologies Ltd. · Via Business Wire · December 23, 2024
Pagaya Announces New $600 Million Consumer Loan ABS Deal, Underscoring Strong Momentum Ahead of 2025
Pagaya Technologies LTD. (NASDAQPGY) ("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 2024-11) and expects to close an additional $100 million pass-through transaction (PT 2024-2) next week.
By Pagaya Technologies LTD. · Via Business Wire · December 12, 2024
Pagaya Expands Term Loan with Improved Terms and Additional Corporate Lending Partners
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the completion of its previously-announced $100 million term loan upsize, with an additional $28 million of funding provided by Canadian Imperial Bank of Commerce (CIBC) and Bank of Montreal (BMO). The two banks also funded a $15 million expansion of Pagaya’s revolving credit facility. Additionally, the Company completed its previously-announced sale of $100 million of balance sheet securities, executed at a premium to the securities’ carrying value.
By Pagaya Technologies LTD. · Via Business Wire · December 3, 2024
Pagaya Reports Third Quarter and Nine Months Ended 2024 Results
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the third quarter and nine months ended 2024.
By Pagaya Technologies Ltd. · Via Business Wire · November 12, 2024
Pagaya Raises $1 Billion Across Two New Personal Loan and Auto ABS Deals, Signaling Strong Capital Markets Demand
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of PAID 2024-10 and RPM 2024-3, totaling $1 billion in size across both deals. This represents the Company’s fourth AAA-rated personal loan ABS transaction and its first AA-rated auto ABS transaction.
By Pagaya Technologies LTD. · Via Business Wire · November 6, 2024
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today that the Company’s management team will participate in the following investor conferences:
By Pagaya Technologies Ltd. · Via Business Wire · October 31, 2024
Pagaya Completes Acquisition of Theorem Technology, Inc.
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the completion of its acquisition of Theorem Technology, Inc. (“Theorem”), a machine-learning underwriting technology company that has powered billions of dollars of credit across its network since its founding in 2014.
By Pagaya Technologies LTD. · Via Business Wire · October 28, 2024
Pagaya Announces Pricing of Upsized $140 Million Exchangeable Senior Notes Offering at a 45% Exchange Premium
Pagaya Technologies LTD. (NASDAQPGY) (“Pagaya” or the “Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced that its wholly owned subsidiary, Pagaya US Holding Company LLC (“Pagaya US”), priced its offering of $140 million aggregate principal amount of exchangeable senior notes due 2029 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $125 million aggregate principal amount of notes as a result of strong demand on the offering. The issuance and sale of the notes is scheduled to settle on October 1, 2024, subject to customary closing conditions. Pagaya US also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $20 million principal amount of notes.
By Pagaya Technologies LTD. · Via Business Wire · September 26, 2024
Pagaya Announces Proposed Exchangeable Senior Notes Offering
Pagaya Technologies LTD. (NASDAQPGY) (“Pagaya” or the “Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced that its wholly owned subsidiary, Pagaya US Holding Company LLC (“Pagaya US”), intends to offer, subject to market and other conditions, $125 million aggregate principal amount of exchangeable senior notes due 2029 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Pagaya US also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $18.75 million principal amount of notes.
By Pagaya Technologies LTD. · Via Business Wire · September 25, 2024
Pagaya Closes New $500 Million Consumer Loan ABS Deal, Reflecting Continued Strong Investor Demand
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of PAID 2024-9.
By Pagaya Technologies LTD. · Via Business Wire · September 18, 2024
Pagaya Announces Appointment of Josh Fagen as Head of Investor Relations and COO of Finance
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the appointment of Josh Fagen, CFA, as Head of Investor Relations and COO of Finance. In this role, Fagen will oversee investor and analyst relations and finance team operations, leading the company’s engagement with the equity investor community and Pagaya’s key strategic financial initiatives to drive continued strong financial performance.
By Pagaya Technologies LTD. · Via Business Wire · September 17, 2024
Former Citi and U.S. Bank Executive Rajinder Singh Joins Pagaya as Chief Risk Officer
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today named Rajinder (Raj) Singh as Chief Risk Officer. In this role, he will oversee all aspects of risk management, ensuring profitable, responsible, and continuous growth for Pagaya.
By Pagaya Technologies LTD. · Via Business Wire · September 5, 2024
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today that the Company’s management team will participate in the following investor conferences:
By Pagaya Technologies Ltd. · Via Business Wire · August 29, 2024
Pagaya Reports Second Quarter and First Half 2024 Results
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the second quarter and the first half of 2024.
By Pagaya Technologies Ltd. · Via Business Wire · August 9, 2024
Pagaya and Castlelake Announce Forward Flow Agreement to Purchase up to $1 Billion of Consumer Loans Originated on the Pagaya Network
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, and Castlelake, L.P. ("Castlelake"), a global alternative investment manager specializing in asset-based private credit and an experienced investor in consumer credit opportunities, today announced an agreement for Castlelake to purchase, subject to certain terms and conditions, an aggregate amount of up to $1 billion in consumer loans through the Pagaya network. Following satisfaction of the closing conditions, Castlelake will acquire loans on a monthly basis for an initial 12-month term, with the potential for the agreement to be extended for additional loan purchases over time.
By Pagaya Technologies LTD. · Via Business Wire · August 9, 2024
Pagaya Announces New Lending Partnership with OneMain Financial
Pagaya Technologies Ltd. (NASDAQPGY) (the “Company” or “Pagaya”), a global technology company delivering AI-driven product solutions for the financial ecosystem, and OneMain Financial NYSE: OMFNYSEOMF)
By Pagaya Technologies Ltd. · Via Business Wire · August 6, 2024
Seasoned Fintech and Technology Silicon Valley Executive, Ralph L. Leung, Joins Pagaya as Chief Operating Officer & Chief Commercial Officer
Pagaya Technologies LTD. (NASDAQPGY) (“Pagaya” or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the appointment of Ralph L. Leung as Chief Operating Officer and Chief Commercial Officer, as it continues to strategically enhance its AI-driven network and product suite to be the premier consumer credit technology solution for the banking ecosystem.
By Pagaya Technologies LTD. · Via Business Wire · August 5, 2024
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today that the Company’s management team will participate in the following investor conferences:
By Pagaya Technologies Ltd. · Via Business Wire · July 31, 2024
Pagaya Announces Agreement to Purchase Leading Consumer Credit Funds Manager, Theorem Technology, Inc.
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced that it has agreed to purchase 100% of Theorem Technology, Inc. (“Theorem”). Theorem has powered billions of dollars of credit investments across its network since its founding in 2014 with stable, long-term capital, utilizing its proprietary technology.
By Pagaya Technologies LTD. · Via Business Wire · July 30, 2024
Pagaya to Offer More Installment Financing Solutions for Banks and Merchants Through Mastercard Engage Program
Pagaya Technologies Ltd. (NASDAQPGY) (the “Company” or “Pagaya”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced it is joining the Mastercard Engage program. The Mastercard Engage program connects qualified fintech enablers to banks, merchants, fintechs and more to help them accelerate product innovation through access to the company's global network, expertise, technology, and resources.
By Pagaya Technologies Ltd. · Via Business Wire · June 12, 2024
Pagaya Raises 2024 Adjusted EBITDA Guidance as it Drives Further Operational Efficiency
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced that the Company is executing initiatives to drive enhanced profitability and achieve its goal of reaching positive net cash flow, by further streamlining its operations and accelerating its key growth priorities.
By Pagaya Technologies LTD. · Via Business Wire · June 6, 2024
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today that the Company’s management team will participate in the following investor conferences:
By Pagaya Technologies Ltd. · Via Business Wire · May 30, 2024
Pagaya Technologies is Set to Join the Russell 2000® Index
Pagaya Technologies Ltd. (“Pagaya”) (NASDAQPGY), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today that as part of the annual reconstitution of the Russell stock indexes, Pagaya is set to join the Russell 2000® Index and the broad-market Russell 3000® Index, effective at the open of US equity markets on Monday, July 1st. A preliminary list of Russell 3000® Index additions, including Pagaya, was posted by FTSE Russell on May 24, 2024.
By Pagaya Technologies Ltd. · Via Business Wire · May 28, 2024
Pagaya Reports First Quarter 2024 Results
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the quarter ending March 31, 2024.
By Pagaya Technologies Ltd. · Via Business Wire · May 9, 2024
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today that the Company’s management team will participate in the following investor conferences:
By Pagaya Technologies Ltd. · Via Business Wire · May 2, 2024
Pagaya Files First Annual Report on Form 10-K
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced that it filed its first annual report on Form 10-K for the year ended December 31, 2023.
By Pagaya Technologies Ltd. · Via Business Wire · April 25, 2024
Pagaya to Form Strategic Advisory Board, Chaired by New Board Member and Former Apple and Goldman Sachs Executive, Tami Rosen
Pagaya Technologies Ltd. (“Pagaya”) (NASDAQPGY), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today the creation of a new strategic Advisory Board, aimed at bringing together seasoned industry professionals to help accelerate the expansion of Pagaya’s business and support the Company’s mission and its executives.
By Pagaya Technologies Ltd. · Via Business Wire · April 16, 2024
Pagaya to Webcast Fireside Chat with CEO Gal Krubiner, CFO Evangelos Perros and President Sanjiv Das on March 26, 2024
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya,” the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced plans to host a virtual fireside chat, with CEO Gal Krubiner, CFO Evangelos Perros and President Sanjiv Das. The conversation will be moderated by John Hecht from Jefferies, on Tuesday, March 26, 2024 at 1:00 PM ET.
By Pagaya Technologies Ltd. · Via Business Wire · March 19, 2024
Pagaya Announces Pricing of 7,500,000 Class A Ordinary Shares
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya,” the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced that it has priced an underwritten public offering (the “Offering”) of 7,500,000 Class A ordinary shares, no par value (“Class A Ordinary Shares”) at a public offering price of $12.70. The Company granted the underwriters a 30-day option to purchase up to 1,125,000 additional Class A Ordinary Shares. The gross proceeds to the Company from the Offering are expected to be approximately $95 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for general corporate purposes and to support future growth, which may include working capital expenses and associated investments. The Offering is expected to close on March 18, 2024, subject to market and other conditions.
By Pagaya Technologies Ltd. · Via Business Wire · March 14, 2024
Pagaya Announces Public Offering of Class A Ordinary Shares
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya,” the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced that it has commenced an underwritten public offering (the “Offering”) of 6,500,000 Class A ordinary shares, no par value (“Class A Ordinary Shares”). The Company intends to grant the underwriters a 30-day option to purchase up to 975,000 additional Class A Ordinary Shares. The Company intends to use the net proceeds from the Offering for general corporate purposes and to support future growth, which may include working capital expenses and associated investments. The Offering is subject to market and other conditions.
By Pagaya Technologies Ltd. · Via Business Wire · March 13, 2024
Pagaya Continues Strong Momentum, Raising More Than $1 Billion Across Two New ABS Deals
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of two new asset-backed securitizations (ABS) – RPM 2024-1 and PAID 2024-3, its 50th and 51st ABS deals, respectively. Kroll Bond Rating Agency rated the transaction.
By Pagaya Technologies LTD. · Via Business Wire · March 13, 2024
Pagaya Announces Effective Date for Reverse Stock Split
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced that its Board of Directors approved a reverse stock split at a final ratio of 1-for-12, which will be effective at 9:00 a.m. Eastern Time, on Friday, March 8, 2024. Pagaya ordinary shares will begin trading on a split-adjusted basis at the market open on Friday, March 8, 2024, under the Company’s existing trading symbol “PGY,” with a new CUSIP number, M7S64L123.
By Pagaya Technologies Ltd. · Via Business Wire · March 4, 2024
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will participate in the following investor conferences:
By Pagaya Technologies Ltd. · Via Business Wire · March 1, 2024
Pagaya Reports Fourth Quarter and Full Year 2023 Results
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the fourth quarter and full year 2023.1
By Pagaya Technologies Ltd. · Via Business Wire · February 21, 2024
Pagaya Closes Another $400 Million Consumer Loan Asset-Backed Securitization
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of PAID 2024-2, its 49th asset-backed securitization (ABS) and its second in 2024. Kroll Bond Rating Agency rated the transaction.
By Pagaya Technologies LTD. · Via Business Wire · February 20, 2024
Pagaya Names Evangelos Perros as Chief Financial Officer
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced that Evangelos Perros has been named as the Company's Chief Financial Officer (“CFO”), effective immediately.
By Pagaya Technologies Ltd. · Via Business Wire · February 20, 2024
Pagaya Closes Five-Year $280M Credit Facility with BlackRock, UBS, JPMorgan Chase and Other Lenders
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today the closing of a credit facility with participation from Funds and Accounts managed by BlackRock U.S. Private Capital (“BlackRock”), UBS O’Connor, JPMorgan Chase, Valley Bank, and Israel Discount Bank. The facility, which consists of a $255 million term loan and a $25 million revolver, provides the capital and liquidity needed to support the Company’s future growth, extends its corporate debt maturity to 2029 and validates investors' confidence in Pagaya's business model and financial strength.
By Pagaya Technologies LTD. · Via Business Wire · February 7, 2024
Pagaya Closes New $400 Million Consumer Loan Deal, Reflecting Continued Strong Investor Demand
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of PAID 2024-1, its 48th asset-backed securitization (ABS), which was rated by Kroll Bond Rating Agency.
By Pagaya Technologies LTD. · Via Business Wire · January 25, 2024
Pagaya to Participate in 26th Annual Needham Growth Conference
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will participate in the 26th Annual Needham Growth Conference on Wednesday, January 17, 2024, in New York, NY. The presentation is scheduled to begin at 4:30 PM ET.
By Pagaya Technologies Ltd. · Via Business Wire · January 16, 2024
Pagaya Announces Strategic Actions to Enhance Marketability of its Stock, Strong Financial Outperformance in 4Q23 and FY23
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced several initiatives to enhance the marketability of its stock and provide increased disclosure and transparency of its business and performance, including its intent to elect to voluntarily file on U.S. domestic issuer forms with the Securities and Exchange Commission (“SEC”) beginning with its first quarter 2024 results, as well as relocate its corporate headquarters to New York City. In addition, the Company’s Board of Directors approved a proposal, to be submitted to shareholders for approval at a special meeting, to authorize the Board to effect a reverse split (the “Reverse Split”) of its ordinary shares, at a proposed range between 1-for-10 and 1-for-15. The Reverse Split is expected to be effected in the first quarter of 2024, with the final ratio to be determined by the Board after shareholder approval. The Company also today announced expectations for certain preliminary, unaudited financial results for the year ended December 31, 2023, with its final fourth quarter and full-year 2023 results expected to be announced on February 21, 2024.
By Pagaya Technologies Ltd. · Via Business Wire · January 16, 2024
Pagaya Announces Partnership with Exeter Finance, Further Scaling its Auto Lending Product
Pagaya Technologies Ltd. (NASDAQPGY) (the “Company” or “Pagaya”), a global technology company delivering AI-driven product solutions for the financial ecosystem, has announced a partnership with Exeter Finance, a premier auto finance company delivering financing solutions for over a million customers, across more than 13,000 dealerships.
By Pagaya Technologies Ltd. · Via Business Wire · December 13, 2023
Pagaya Technologies Names Former Xerox Executive Nicole Torraco to its Board of Directors
Pagaya Technologies Ltd. (“Pagaya”) (NASDAQPGY), a global technology company delivering AI-driven product solutions for the financial ecosystem, announced today the appointment of Nicole Torraco to its Board of Directors earlier this month.
By Pagaya Technologies Ltd. · Via Business Wire · November 29, 2023
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will participate in the following investor conferences:
By Pagaya Technologies Ltd. · Via Business Wire · November 28, 2023
Pagaya’s Strong Momentum Continues with Closing of Fourth Auto Asset-Backed Securitization Deal of 2023
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of RPM 2023-4, its 46th asset-backed securitization (ABS) and its 14th in 2023. Kroll Bond Rating Agency rated the transaction.
By Pagaya Technologies LTD. · Via Business Wire · November 27, 2023
Pagaya Closes New $700 Million Consumer Loan Asset-Backed Securitization
Pagaya Technologies LTD. (NASDAQPGY) (“Pagaya” or “the Company”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of PAID 2023-7, its 45th asset-backed securitization (ABS) and its 13th in 2023. Kroll Bond Rating Agency rated the transaction.
By Pagaya Technologies LTD. · Via Business Wire · November 8, 2023
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will participate in the following investor conferences:
By Pagaya Technologies Ltd. · Via Business Wire · November 3, 2023
Pagaya Reports Third Quarter and Nine Months Ended 2023 Results
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the third quarter and nine months ended September 30, 2023 and raised its outlook for Network Volume, Total Revenue and Other Income and Adjusted EBITDA.
By Pagaya Technologies Ltd. · Via Business Wire · November 2, 2023
Abhijit Chaudhary Joins Pagaya as Chief Product Officer
Pagaya Technologies Ltd. (NASDAQPGY) (the “Company” or “Pagaya”), a global technology company delivering AI-driven product infrastructure for the financial ecosystem, today announced the appointment of Abhijit Chaudhary as its new Chief Product Officer.
By Pagaya Technologies Ltd. · Via Business Wire · November 1, 2023
Pagaya Announces Addition of Two New Partners, Scaling Its Lending Network with a Top Five Bank in the U.S. and Top Four Auto Captive
Pagaya Technologies Ltd. (NASDAQPGY) (the “Company” or “Pagaya”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced it has onboarded two new partners to its premier tech-enabled, two-sided lending network: a top five bank in the US and a top four auto captive lender. With the addition of these two new strategic partners, the Company expects to be able to substantially grow its network volume.
By Pagaya Technologies Ltd. · Via Business Wire · October 25, 2023
Experienced Financial Services Executive and Former CEO of Caliber Home Loans, Sanjiv Das, Named President of Pagaya Technologies
Pagaya Technologies Ltd. (NASDAQPGY) (the “Company” or “Pagaya”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced the appointment of Sanjiv Das as its new President. In this role, Das will oversee the strategy and growth of the Company’s commercial business – including its single-family rental business and Darwin subsidiary – as it continues to enhance its tech-enabled product offering and expand its new and existing lending partnerships.
By Pagaya Technologies Ltd. · Via Business Wire · October 5, 2023
Pagaya Closes $600 Million Consumer Loan Asset-Backed Securitization
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced the closing of PAID 2023-6, its 43rd asset-backed securitization (ABS) and its 11th in 2023. The transaction was rated by Kroll Bond Rating Agency.
By Pagaya Technologies LTD. · Via Business Wire · September 27, 2023
Pagaya Closes $281 Million Auto ABS Deal, its 10th ABS Transaction in 2023
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced the closing of RPM 2023-3, its 42nd asset-backed securitization (ABS) and its 10th in 2023.
By Pagaya Technologies LTD. · Via Business Wire · September 20, 2023
Pagaya and Värde Continue Partnership to Provide Capital Support to Credit Unions
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, and Värde Partners, a leading global alternative investment firm specializing in credit and credit-related assets, announced the closing of PAID 2023-S2, continuing a partnership to provide funding and growth for credit unions.
By Pagaya Technologies LTD. · Via Business Wire · September 18, 2023
Pagaya Announces Partnership with Westlake Financial, Showcasing Strength of Pagaya’s Fast-Growing Auto Product
Pagaya Technologies Ltd. (NASDAQPGY) (the “Company” or “Pagaya”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, has announced a partnership with Westlake Financial, an automotive fintech company with almost $24 billion in assets under management, originating indirect automotive retail installment contracts through a nationwide network of new and used auto dealers.
By Pagaya Technologies Ltd. · Via Business Wire · September 7, 2023
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will participate in the following investor conferences:
By Pagaya Technologies Ltd. · Via Business Wire · August 31, 2023
Pagaya Reports Second Quarter and First Half 2023 Results
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the second quarter and the first half of 2023 and provided its third quarter 2023 and full-year 2023 outlook.
By Pagaya Technologies Ltd. · Via Business Wire · August 10, 2023
Pagaya Schedules 2023 Annual Meeting of Shareholders
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced that its 2023 Annual Meeting of Shareholders will be held virtually on September 13, 2023, beginning at 9:00 a.m. ET / 4:00 p.m. IDT. The virtual meeting website will be accessible prior to the meeting start and shareholders can log in by visiting www.virtualshareholdermeeting.com/PGY2023.
By Pagaya Technologies Ltd. · Via Business Wire · August 8, 2023
Pagaya to Participate in Canaccord Genuity 43rd Annual Growth Conference
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will participate in the Canaccord Genuity 43rd Annual Growth Conference on Tuesday, August 8th, 2023, in Boston, MA. The presentation is scheduled to begin at 9:00 AM ET.
By Pagaya Technologies Ltd. · Via Business Wire · August 3, 2023
Pagaya Announces ~$800 Million ABS, its 8th Deal in 2023 with $3.9 Billion Raised This Year
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced the closing of PAID 2023-5 with ~$800 million of capital raised, upsized from $600 million, its 40th asset-backed securitization (ABS) to date and its 8th deal in 2023. With Pagaya’s fully pre-funded model, capital is raised before loans are originated by Pagaya’s partners, allowing financial institutions to approve more loans without using their own balance sheets.
By Pagaya Technologies LTD. · Via Business Wire · July 20, 2023
BLVD Residential Expands Relationship with Pagaya's Darwin Homes, Adds 1,000 Homes to Darwin's Platform
Darwin Homes, Inc. (“Darwin”), a leading proptech single-family residential platform and a wholly-owned subsidiary of Pagaya Technologies Ltd. (NASDAQPGY) ("Pagaya"), announced today that BLVD Residential, an asset management firm focused on residential real estate, has moved to deepen their relationship with Darwin’s property management business and began adding 1,000 homes to Darwin's innovative platform starting in June 2023.
By Pagaya Technologies LTD. · Via Business Wire · July 18, 2023
Pagaya Announces $541 Million ABS, its 7th Deal in 2023
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced the closing of PAID 2023-4, with $541M of capital raised, its 39th asset-backed securitization (ABS) since 2018 and its 7th in 2023. With its fully pre-funded model, where capital is raised before loans are originated by Pagaya’s partners, Pagaya is currently the number one issuer of personal loan ABS transactions in the U.S.
By Pagaya Technologies LTD. · Via Business Wire · June 12, 2023
Pagaya Reports First Quarter 2023 Results
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the first quarter ending March 31, 2023 and raised its adjusted EBITDA guidance for 2023.
By Pagaya Technologies Ltd. · Via Business Wire · May 16, 2023
Pagaya’s Centralized AI-Powered Network Facilitates Credit Union’s Access to Capital from Leading Alternative Investment Firms
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today a partnership with a group of leading alternative investment firms – Angelo Gordon, ATLAS SP Partners, and Värde Partners – to provide funding for a multi-billion dollar credit union.
By Pagaya Technologies LTD. · Via Business Wire · May 15, 2023
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will be participating in the following investor conferences in May and June:
By Pagaya Technologies Ltd. · Via Business Wire · May 5, 2023
Pagaya Strengthens Leadership Team with Two Executive Hires, Deepening Subject Matter Expertise
Pagaya Technologies Ltd. (NASDAQPGY) (the “Company” or “Pagaya”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, has named two executives with proven track records to its team – Giancarlo Marchesi as General Manager and Eric Watson as Chief Legal Officer – adding to its already strong senior leadership bench.
By Pagaya Technologies Ltd. · Via Business Wire · May 4, 2023
Pagaya Receives $75 Million from Longstanding Investor Oak HC/FT to Accelerate M&A Strategy
Pagaya Technologies LTD. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that its longtime investor, Oak HC/FT, is investing $75 million in Pagaya in the form of a convertible perpetual preferred security. The preferred converts at $1.25, which reflects a premium of approximately 36% to Pagaya's closing price on April 19, 2023. The investment further strengthens Pagaya’s positioning to pursue strategic investments, primarily acquisitions, in the current market, driving value alongside its already strong organic growth profile.
By Pagaya Technologies LTD. · Via Business Wire · April 20, 2023
GIC and Pagaya Technologies Extend Their Strategic Partnership for Years to Come
Pagaya Technologies Ltd. (NASDAQPGY) ("Pagaya"), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, with GIC, one of the world’s leading global institutional investors, announced today that they have strengthened their strategic partnership. GIC and Pagaya extended their existing funding agreement earlier this week, by which GIC invests in the Company’s financing vehicles, for an additional 3 years on top of the original 5-year term, on the same terms as the existing agreement. Additionally, last week, GIC increased its holding of PGY Class A ordinary shares to approximately 9% of Pagaya’s outstanding Class A shares as of March 31, 2023.
By Pagaya Technologies Ltd. · Via Business Wire · April 10, 2023
Pagaya Wins 2023 Fintech Breakthrough Award for Consumer Lending Innovation
Pagaya Technologies Ltd. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced that it has been selected as the recipient of the “Consumer Lending Innovation Award” in the 7th annual FinTech Breakthrough Awards program, which recognizes the top companies, technologies and products in the global FinTech market today.
By Pagaya Technologies Ltd. · Via Business Wire · March 23, 2023
Pagaya to Participate in the Wolfe FinTech Forum
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will be participating in the Wolfe FinTech Forum on March 14, 2023 in New York, NY.
By Pagaya Technologies Ltd. · Via Business Wire · March 10, 2023
Pagaya Reports Fourth Quarter and Full Year 2022 Results
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the fourth quarter and full year of 20221.
By Pagaya Technologies Ltd. · Via Business Wire · February 15, 2023
Pagaya’s Acquisition of Darwin Homes Powers Premier Tech-Enabled Single-Family Rental Platform
Pagaya Technologies Ltd. (NASDAQPGY) ("Pagaya" or “the Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, has today announced its first acquisition, the purchase of Darwin Homes, Inc. (“Darwin”), a leading proptech platform. The combination creates a data-rich, technologically sophisticated offering for all participants in the SFR space, including residents, investors and service providers.
By Pagaya Technologies Ltd. · Via Business Wire · January 11, 2023
Pagaya to Participate in December 2022 Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will be participating in the following conferences in December 2022.
By Pagaya Technologies Ltd. · Via Business Wire · November 30, 2022
Pagaya Reports Third Quarter 2022 Results
Pagaya Technologies Ltd. (NASDAQPGY) (“Pagaya”, the “Company” or “we”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the third quarter ending September 30, 2022 and updates to its full-year 2022 outlook.
By Pagaya Technologies Ltd. · Via Business Wire · November 10, 2022
Pagaya to Participate in Upcoming Investor Conferences
Pagaya Technologies Ltd. (“Pagaya” or the “Company”), a global technology network delivering artificial intelligence infrastructure for the financial ecosystem, announced today that the Company’s management team will be participating in the following conferences in November 2022:
By Pagaya Technologies Ltd. · Via Business Wire · October 31, 2022