Simon Taylor: Pagaya issues $300M bond backed by Klarna loans
@sytaylor: Pagaya issues $300M bond
Pagaya, a financial technology firm, has made a $300 million bond backed by consumer loans at Klarna available for sale. This move highlights the growing trend of consumer loans becoming mainstream investing assets, providing alternative options for investors in an ever-evolving financial landscape.
Simon Taylor, a co-founder of 11:FS and an eminent figure in financial technology, pointed out this development on his Twitter account, noting the progression towards what he describes as 'narrow banking' becoming a normal aspect of today's financial environment.
Klarna, a Swedish fintech company renowned for its pioneering 'buy now, pay later' services, collaborates with Pagaya to offer this novel investment opportunity. The bond issuance is part of a broader trend where non-traditional lending and investment avenues gain traction in the financial sector, reflecting the sector's adaptive nature to evolving investor demands.
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In the previous news, tweet author Simon Taylor discussed transformative financial technologies.
