Home / Business and Economy / Pagaya Secures $460M Loan Facility
Pagaya Secures $460M Loan Facility
22 Sep
Summary
- Pagaya Technologies secured a $460 million revolving personal loan facility.
- The loan facility is backed by consumer loans and has a 24-month revolving period.
- The company expects to deploy approximately $850 million in capital over two years.
Pagaya Technologies Ltd. has successfully closed a substantial $460 million revolving personal loan facility. This development marks a strategic diversification of the financial technology firm's funding strategy, enhancing its financial flexibility.
The newly established facility is underwritten by consumer loans, providing a robust backing for the capital infusion. It features a 24-month revolving period, a structure that allows for repeated borrowing and repayment over time.
Throughout this two-year period, Pagaya Technologies projects the deployment of approximately $850 million in capital. This significant capital availability is expected to support the company's ongoing operations and strategic initiatives.
