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

NYSE Parent Invests $600M in Polymarket, Strengthening Market Position

This significant investment signals confidence in the future of predictive markets.Highlights: NYSE's parent company allocates $600M to Polymarket.Investment...
FinTech

Nexi Expands SEPA Direct Debit with Danish Banks, Enhancing Payments Integration

Nexi's collaboration with Danish banks aims to strengthen payment services across Europe.Highlights: Nexi partners with several Danish banks...
FinTech

Lloyds Confirms App Glitch Exposed Data of Almost Half a Million Customers

The significant data breach prompts concerns over customer privacy.Highlights: Lloyds Banking Group admits to a data breach affecting...
FinTech

Mastercard Restricts Sale of Nets Payments Unit Purchased for $3.2 Billion

Mastercard looks to divest its Nets payments segment as part of strategic realignment.Highlights: Mastercard is seeking to sell...