A global tech firm, Pagaya Technologies, specializing in AI-driven financial solutions, announced the closing of a credit facility in collaboration with BlackRock U.S. Private Capital, UBS O’Connor, JPMorgan Chase, Valley Bank, and Israel Discount Bank. The facility, comprising a $255 million term loan and a $25 million revolver, extends Pagaya’s debt maturity to 2029, reinforcing confidence in its business model and financial stability.
Pagaya’s Co-Founder and CEO, Gal Krubiner, praises the partnership, emphasizing its significance in the company’s growth journey. Dan Worrell, Managing Director at BlackRock, echoes this sentiment, commending Pagaya’s innovative approach and financial strategy.
Evangelos Perros, Interim CFO of Pagaya, highlights the capital’s importance in fortifying their business as they pursue further expansion. The company’s recent collaborations and strong financial performance signify significant strides in their network expansion and operational growth.
Proceeds from the facility will be allocated towards debt repayment, product innovation, and expanding lending and investor partnerships. Jefferies facilitated the transaction as Sole Arranger.
Pagaya Technologies is a leading global tech firm, leveraging AI and vast data networks to provide transformative financial solutions. With offices in New York and Tel Aviv, Pagaya focuses on enhancing consumer credit and real estate solutions, integrating seamless user experiences and broadening access to the mainstream economy.
