Investors Shudder at AI-Powered Lender to Subprime Borrowers
The price of Pagaya’s recently issued bond has dropped more than 12 cents since September
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Welcome to The Brink . We’re Dorothy Ma and Victor Swezey in New York, where we looked at Pagaya, a unique subprime lender that makes some investors nervous. We also have news on Ukraine, Klöckner Pentaplast and Stenn Technologies. Follow this link to subscribe . Send us feedback and tips at debtnews@bloomberg.net .
Pagaya Technologies, a decade-old lender focused on subprime US consumers, relies on artificial intelligence to sift through a massive $238 billion of loans per quarter.