Pagaya raises $25M in Series C funding for asset management technology

Pagaya, a global fintech that uses artificial intelligence for asset management, has raised $25 million in Series C funding led by Oak HC/FT.

According to a press release, the funding round included participation from seed investor Viola Ventures, as well as Clal Insurance Ltd., GF Investments, Harvey Golub, the chairman of American Express and a Pagaya board member, and Siam Commercial Bank, via its digital ventures arm.

The company, which has offices in New York and Tel Aviv, uses a team of 30 data scientists and AI experts to analyze assets using machine learning techniques. The analysis uses hundreds of millions of data points and incorporates economic data to underwrite investments.

Pagaya will use the new funding to improve its technology and pursue new asset classes, including real estate and fixed asset classes such as auto loans, mortgages and corporate credit.  

“We’ve seen first hand what the Pagaya team can accomplish,” said Dan Petrozzo, venture partner at Oak HC/FT and former partner and global head of investment management technology at Goldman Sachs, and former Chief Information Officer at Fidelity Investments. “Institutions looking for stable investment solutions with higher returns will continue to turn to Pagaya as there is just no one else creating comparable opportunities.”

Topics: Financial News, Mobile Banking, Region: EMEA, Technology Providers

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