# Pagaya Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pagaya-technologies

- Industry: Financial Services
- Headquarters: New York, US
- Website: https://pagaya.com/
- Total disclosed funding: $142M
- Latest round: Series D (Jun 17, 2020)
- Investors on record: 10

## About

Founded in 2016 and based in New York, US, Pagaya Technologies Ltd. is a financial technology company that offers AI (artificial intelligence)-based asset management solutions. Gal Krubiner (CEO), Avital Pardo (CTO), and Yahav Yulzari (CRO) co-founded the company, and it has more than 400 employees in the US and Israel as of 2021. Pagaya Technologies Ltd. raised venture capital funding from private equity investors, including Viola Ventures, GIC, and Oak HC/FT Partners. In September 2021, Pagaya Technologies Ltd. agreed to merge with EJF Acquisition Corp., a SPAC (special purpose acquisition company), at an enterprise value of approximately USD 8.5 billion. In February 2024, Pagaya Technologies Ltd. raised USD 255 million in venture debt funding led by BlackRock, with participation from IDB Bank, JPMorgan Chase, O'Connor, and Valley Financial Management.   The company's development team provides an AI network that utilizes machine learning and big data analytics for managing institutional investments in alternative asset classes for banks, insurance companies, pensions funds, asset managers, and sovereign wealth funds. The AI infrastructure can be integrated into an existing infrastructure to transact across several markets, including unsecured consumer, auto, credit card, point-of-sale, and real estate markets.   Pagaya Technologies Ltd. generates revenue by having institutional investors make purchases of products enabled by its artificial intelligence network. As of Q2 of 2021, the company's annualized revenue is USD 381 million.   Pagaya Technologies Ltd. will become a publicly listed entity and trade under a new ticker symbol upon completing the merger agreement. The company also plans to offer credit solutions for mortgages and insurance-related products.

## Funding rounds

- Series D, Jun 17, 2020, $102M — GIC, Bank Hapoalim, Viola Group, Poalim Equity, Oak HC/FT, SCB10X, Global Fund Investments, Clal Insurance Company Ltd., Aflac Global Investments
- Series C, Apr 3, 2019, $25M — Viola Group, Oak HC/FT, SCB10X, Global Fund Investments, Clal Insurance Company Ltd.
- Series B, Apr 30, 2018, $14M — Viola Group, Siam Commercial Bank, Oak HC/FT, Global Fund Investments, SCB10X, Clal Insurance Company Ltd.
- Seed, May 8, 2016, $1.3M — Viola Group

## Investors

- Viola Group (https://capitalatlas.ai/funds/viola-group) — Seed, Series B, Series C, Series D
- Siam Commercial Bank — Series B
- Oak HC/FT (https://capitalatlas.ai/funds/oak-hc-ft) — Series B, Series C, Series D
- Global Fund Investments — Series B, Series C, Series D
- SCB10X (https://capitalatlas.ai/funds/scb10x) — Series B, Series C, Series D
- Clal Insurance Company Ltd. — Series B, Series C, Series D
- GIC — Series D
- Bank Hapoalim — Series D
- Poalim Equity — Series D
- Aflac Global Investments (https://capitalatlas.ai/funds/aflac-global-investments) — Series D