Pagaya Technologies LTD. announced the launch of POSH (Pagaya Point of Sale Holdings Trust), a new asset-backed revolving securitization program dedicated to point-of-sale (POS) financing. This initiative is designed to significantly expand Pagaya's presence in the POS market and serve as a growth catalyst for providers in the U.S. The inaugural transaction, POSH 2025-1, is a $300 million AAA-rated deal with an 18-month revolving period, expected to close next week.
The POSH program is projected to create over $1 billion in additional funding capacity, leveraging the revolving nature of the deal structure to reinvest capital as loans are repaid. This enhances overall lending capacity and capital efficiency. The POS product is optimized for shorter-duration loans, typically six months, and credit profiles in the 600+ range.
Sanjiv Das, Co-Founder and President of Pagaya, stated that POSH unlocks a new chapter of strong growth in the point-of-sale space, enabling support for existing POS lending partners at scale. CEO Gal Krubiner expressed the company's aim to become the leading issuer of POS ABS, reinforcing its leadership in structured finance.
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