Fintech startup Pagaya raises $102 million
Pagaya uses machine learning algorithms and big data analytics to manage institutional assets. Pagaya has more than $1.6 billion in assets under management
Tel Aviv and New York-based fintech startup Pagaya Investment Israel Ltd. has raised $102 million in a series D funding round, the company announced Wednesday. The round was led by Aflac Global Ventures, Poalim Capital Markets, Viola, Oak HC/FT, former Chairman and CEO of American Express Harvey Golub, Clal Insurance Ltd., GF Investments, and Siam Commercial Bank.Founded in 2016, Pagaya uses machine learning algorithms and big data analytics to manage institutional assets. Pagaya has more than $1.6 billion in assets under management, according to the company’s statement. Pagaya has raised more than $215 million to date.
Pagaya intends to use the funds to hire more data scientists, develop its technology further, and continue its pursuit of new asset classes, such as real estate and other fixed-income assets like auto loans, mortgages, and corporate credit.