Pagaya Technologies announced the closing of RPM 2026-3, a AAA-rated and upsized $600 million auto asset-backed securitization transaction, marking the company’s largest auto ABS deal to date.
The transaction represents Pagaya’s third fully pre-funded auto ABS issuance of 2026, bringing the company’s total pre-funded auto ABS raised this year to $1.5 billion. The increased funding capacity reflects continued growth across Pagaya’s auto lending platform and expanding demand from lending partners and institutional investors.
According to the company, 28 unique investors participated in the RPM 2026-3 transaction, including four new investors joining Pagaya’s broader ABS platform and five new investors participating in its auto ABS shelf for the first time. Pagaya said the number of unique investors participating in the RPM shelf has more than doubled compared to the same period last year.
Since 2018, Pagaya has raised more than $38 billion through 90 ABS transactions supporting loan originations across multiple consumer credit products, including personal loans and auto financing.
Founded as an AI-driven financial technology platform, Pagaya uses machine learning models, proprietary APIs, and large-scale data networks to help financial institutions expand access to consumer credit products and services.
KEY QUOTES:
“We are encouraged by market demand and the enduring confidence in Pagaya’s RPM shelf. Upsizing a deal in the current climate is a testament to our track record and the consistent execution of Pagaya’s platform. We remain focused on delivering fit-to-market structures for our investors while maintaining a disciplined approach to risk management.”
Sahil Chandiramani, Head of Capital Markets, Pagaya Technologies
