Pagaya Technologies announced the closing of a $600 million AAA-rated personal loan asset-backed securitization, known as PAID 2026-2, reinforcing continued investor demand for its AI-driven credit platform despite recent market volatility.
The transaction attracted participation from 27 unique investors, the majority of whom were returning participants from prior deals. Notably, four new institutional investors joined the PAID platform for the first time, signaling expanding confidence in Pagaya’s model and further diversifying its funding base.
Since launching its securitization efforts in 2018, Pagaya has issued more than $36 billion across 86 ABS transactions, supported by over 165 institutional investors. The company noted that it has generated $28.5 billion specifically in personal loan ABS issuance to support its growing partner network, which spans personal loans, auto lending, and point-of-sale financing programs.
The PAID 2026-2 deal builds on Pagaya’s broader momentum in capital markets, following earlier transactions this year and the continued scaling of its AI-powered underwriting platform. The company leverages machine learning and a large data network to expand access to credit while delivering investment opportunities to institutional partners.
Pagaya said the successful execution of the latest securitization reflects both the consistency of its platform performance and sustained market appetite for its structured credit offerings.
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“The successful closing of PAID 2026-2 highlights the consistency and reliability of the Pagaya platform. Welcoming new institutional partners alongside our deeply committed returning investors demonstrates the continued expansion of our ecosystem and the market’s confidence in our AI-driven credit underwriting.”
Sahil Chandiramani, Head of Capital Markets at Pagaya Technologies LTD.
