AIBankingBusiness

Pagaya secures five-year $280m credit facility led by BlackRock

  • Fintech firm Pagaya Technologies has secured a $280 million credit facility led by BlackRock, with participation from Israel Discount Bank, UBS O’Connor, JP Morgan Chase, and Valley Bank.
  • The facility comprises a $255 million term loan and a $25 million revolver, extending Pagaya’s corporate debt maturity to 2029.
  • The funds will support the company’s growth, fuel its services powered by machine learning and AI in consumer credit and residential real estate, fund new product investments, and pay off outstanding borrowings from previous facilities.
  • Last year, Pagaya acquired proptech firm Darwin Homes to enhance its real estate platform.
Previous article
Worldline to cut workforce by 8% with €200m cost-saving initiative Power24
Next article
Europe’s Digital Services Act applies in full from tomorrow — here’s what you need to know
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

Coinbase Lists First GBP Stablecoin, Expanding Market Options

The new stablecoin aims to enhance trading in the UK market.Highlights: Coinbase has launched the first GBP stablecoin.This...
FinTech

Former Royal Mint Executives Secure Backing for Precious Metals Trading Platform

New platform aims to modernize precious metals trading for investors.Highlights: Former Royal Mint executives launch a new trading...
FinTech

Coastal Bank Partners with Tempo to Strengthen Cross-Border Money Transfers

The partnership aims to enhance international money movement solutions.Highlights: Coastal Bank has partnered with Tempo for improved cross-border...
FinTech

Lloyds Accelerates Homebuying with Fully Digital Service

New platform aims to reduce waiting times for mortgage approvals.Highlights: Lloyds introduces a fully digital homebuying service.Service aims...