Pagaya Technologies has completed a $400 million auto asset-backed securities (ABS) transaction—its fifth of 2025—backed by loans originated through its network of U.S. auto lenders, including Ally and Westlake. The deal, dubbed RPM 2025-5, saw One William Street Capital Management purchase the residual certificates, thereby strengthening Pagaya’s capital markets partnerships and diversifying its funding. This milestone brings Pagaya’s total 2025 auto ABS issuance to $1.7 billion, a record high, contributing to more than $32 billion raised across 78 ABS transactions since 2018 to support lending in personal, auto, and point-of-sale finance.

Pagaya Closes Another Auto ABS Transaction At $400M