We are thrilled to share we closed a historic $200 million consumer credit ABS last month, bringing our total issuance to over $1 billion in a year and a half.
Our unique use of machine learning paired with financial expertise makes it possible to consistently deliver low-risk, high-yield investment opportunities for institutional investors even during extreme market stress. This deal was the first issuance amongst marketplace lenders in months, effectively re-opening the ABS market and demonstrating the resilience of AI-underwriting in consumer credit. In today’s rapidly-changing lending environment, our AI has been tested time and again and continues to prove itself.
As we’ve done with past similar deals, we will actively manage the unsecured consumer loans purchased with this ABS. For a period after the close, new assets can get added to this ABS over time.