Pagaya Technologies announced the closing of a $500 million auto asset-backed securitization, RPM-2026-2, representing the largest auto ABS transaction in the company’s history and reinforcing investor demand for its credit platform.
The transaction is part of Pagaya’s RPM shelf, now in its seventh year, which has become a consistent source of high-quality collateral supported by leading auto lenders across the United States. The AAA-rated issuance reflects continued confidence from institutional investors in Pagaya’s underwriting, credit performance, and execution capabilities.
A total of 16 unique investors participated in the transaction, with the majority repeat participants, highlighting sustained engagement from top-tier institutional capital providers. The deal also contributes to more than $3.5 billion raised by Pagaya year-to-date across its asset-backed securities program, which spans multiple consumer credit categories, including personal loans, point-of-sale financing, and auto lending.
Since 2018, Pagaya has raised over $37 billion across 88 ABS transactions, positioning the company as a significant player in structured credit markets. Its platform leverages machine learning, data analytics, and a broad lender network to originate and fund consumer credit assets at scale.
The company noted that it is increasingly focusing on higher-quality credit and application flow through its lender network, a shift that is driving growing demand in its auto ABS program. The continued expansion of its securitization activity reflects broader investor appetite for structured credit products that offer consistent performance and diversified exposure.
Pagaya’s technology-driven approach integrates its proprietary API and capital solutions directly into partner ecosystems, helping lenders extend credit access while maintaining risk controls and delivering better borrower experiences.
The successful execution of RPM-2026-2 shows the resilience of the ABS market and how AI-driven platforms are shaping the future of consumer credit and capital markets.
KEY QUOTE:
“The successful execution of RPM-2026-2 is a testament to the trust we’ve built within the investment community over the last seven years. As we shift toward higher quality credit and application flow via our network of lenders, we are seeing increasing demand in our auto program from top-tier institutional partners, reflecting enduring confidence in our ability to deliver consistent execution and performance across our platform.”
Sahil Chandiramani, Head Of Capital Markets, Pagaya Technologies
