Pagaya Technologies secured a $280 million credit facility with contributions from BlackRock, JPMorgan Chase & Co., Valley National Bancorp, Israel Discount Bank, and a unit of UBS Group AG. The financial technology company known for its AI-driven lending solutions plans to utilize the funds to fuel future growth and extend its corporate-debt maturity until 2029. The funding consists of a $255 million term loan and a $25 million revolver. Pagaya’s ability to access diverse capital sources underscores its commitment to further scale, as demonstrated by its recent attempt to acquire Goldman Sachs Group Inc.’s installment-lending platform GreenSky, which ultimately fell short when it was acquired by a consortium of buyers led by Sixth Street Partners.

BlackRock, JPMorgan Lead $280 Million Credit Facility for Pagaya