๐ข ๐๐จ๐ฆ๐ง ๐๐ก: $Pagaya Tech(PGY.US) Pagaya Secures Nearly $700 Million Funding Facility With ATLAS SP Partners
๐ ๐๐ฒ๐ ๐๐ถ๐ด๐ต๐น๐ถ๐ด๐ต๐๐:โค ๐ฃ๐ฎ๐ด๐ฎ๐๐ฎ closes its inaugural Variable Funding Note facility with ๐๐ง๐๐๐ฆ.โค Facility establishes nearly $๐ณ๐ฌ๐ฌ ๐บ๐ถ๐น๐น๐ถ๐ผ๐ป in personal-loan funding capacity.โค ๐๐ง๐๐๐ฆ ๐ฆ๐ฃ ๐ฃ๐ฎ๐ฟ๐๐ป๐ฒ๐ฟ๐ is majority owned by Apollo Funds.โค Revolving structure allows Pagaya to ๐ฑ๐ฟ๐ฎ๐, repay, and redeploy liquidity.โค Facility provides ๐บ๐๐น๐๐ถ-๐พ๐๐ฎ๐ฟ๐๐ฒ๐ฟ liquidity visibility for personal-loan originations.โค Capital will season newly originated loans before ๐๐ฒ๐ฐ๐๐ฟ๐ถ๐๐ถ๐๐ฎ๐๐ถ๐ผ๐ป.โค Structure supports optimization of Pagaya's ๐๐๐-๐ฟ๐ฎ๐๐ฒ๐ฑ ๐ฃ๐๐๐ ๐๐๐ฆ platform.โค Pagaya says the facility supports ๐น๐ผ๐ป๐ด-๐๐ฒ๐ฟ, scalable origination growth.โค Agreement expands Pagaya's strategy toward ๐ฑ๐ถ๐๐ฒ๐ฟ๐๐ถ๐ณ๐ถ๐ฒ๐ฑ funding sources.๐ ๐ช๐ต๐ ๐ง๐ต๐ถ๐ ๐ ๐ฎ๐๐๐ฒ๐ฟ๐:โค Nearly $๐ณ๐ฌ๐ฌ ๐บ๐ถ๐น๐น๐ถ๐ผ๐ป provides Pagaya greater funding visibility and flexibility.โค Revolving capital can reduce dependence on individual ๐๐๐ฆ issuance windows.โค Loan seasoning generates performance data before loans enter securitization markets.โค Additional warehouse partnerships could further diversify Pagaya's ๐ฐ๐ฎ๐ฝ๐ถ๐๐ฎ๐น base.๐ ๐๐ ๐ฝ๐ฒ๐ฟ๐ ๐ฆ๐๐ฎ๐๐ฒ๐บ๐ฒ๐ป๐:๐๐ผ๐ป ๐๐ผ๐ฏ๐ฟ๐ฒ๐, Chief Financial Officer at Pagaya:โSecuring this VFN with ATLAS is the first step in expanding our warehouse capabilities with banks and other financing partners. As we expand our funding strategy with diverse sources of capital, we drive profitable growth with enhanced funding visibility.โ