Exclusive | The AI Middleman Expanding in the Consumer-Bond Bonanza - WSJ
1. Pagaya issues $300 million in bonds for buy now, pay later loans. 2. Higher yields demanded by investors compared to competitors like Affirm. 3. Pagaya focuses on second-look loans using AI for lower credit borrowers. 4. Buy now, pay later loans are a rapidly growing consumer lending segment. 5. Klarna's expansion supported by Pagaya's funding, enhancing its loan approval rates.