US-Israeli financial technology firm Pagaya has raised a $102 million Series D funding round, the company announced on Tuesday.
Participants in the round include Aflac Global Ventures, the venture capital holding company of top insurance firm, Aflac Incorporated, Poalim Capital Markets, the investment banking arm of Bank Hapoalim, Viola, Oak HC/FT, Harvey Golub, a Pagaya board member and former chairman and CEO of American Express, Clal Insurance Ltd., GF Investments, and Siam Commercial Bank through its Digital Ventures arm.
This brings the company’s total funding to $146 million to date.
Pagaya will use the investment to hire more top tier 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.
“The world is changing quickly and investors need a performance edge — more and more are turning to Pagaya,” said Krubiner, Pagaya’s CEO and co-founder. “We continue to unlock unprecedented value with our AI even during extreme market stress. Closing a round of this magnitude, with such a high-quality group of investors, is a testament to the hard work of the Pagaya team.”
Founded in 2015 by Gal Krubiner, Avital Pardo, and Yahav Yulzari, global fintech company Pagaya uses artificial intelligence to reshape asset management and institutional investments. In the four years since its launch, Pagaya has grown to manage over $1.6 billion of assets for banks, insurance companies, pensions funds, asset managers, and sovereign wealth funds. Pagaya has offices in New York and Tel Aviv.
“The firm continues to significantly and effectively innovate in a space that has failed to evolve for decades. Pagaya is driving the future of asset management,” said Golub.