Total amount raised
$3.6 Billions
Latest funding date
02/01/2025
Location
Pagaya has successfully raised $295 million in its latest funding round, backed by 22 investors including BlackRock and Valley National Bank. The platform integrates with lenders' origination systems via an API, using AI to analyze loan applications in real-time.
Keep reading to explore the intricacies of Pagaya's fundraising journey and the investors backing this innovative platform.
What Is Pagaya?
Pagaya, founded in 2016, is a financial technology company based in New York, New York. The company was established by Gal Krubiner and focuses on reshaping the asset management space using machine learning and big data analytics.
Pagaya's platform, Pagaya Pulse, enables financial institutions to expand access to more customers through its artificial intelligence network. The company manages institutional money, focusing on fixed income and alternative credit, offering a variety of discretionary funds to institutional investors.
With a workforce of 501-1000 employees, Pagaya integrates with lenders' origination systems via an API, using AI to analyze loan applications in real-time. This seamless integration allows for quick decisions and approvals, enhancing customer satisfaction and long-term retention.
How Much Funding Has Pagaya Raised?
- Amount Raised: $102M
- Date: June 2020
- Lead Investors: GIC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its AI-driven financial solutions and enhance its market presence.
- Amount Raised: $350M
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and technological advancements.
- Amount Raised: $75M
- Date: April 2023
- Lead Investors: Oak HC/FT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product innovation and expand its network.
- Amount Raised: $700M
- Date: July 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support large-scale projects and strategic acquisitions.
- Amount Raised: $280M
- Date: February 2024
- Lead Investors: BlackRock, UBS O’Connor, JPMorgan Chase, Valley Bank, Israel Discount Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide capital and liquidity for future growth and extend corporate debt maturity.
- Amount Raised: $396M
- Date: February 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial stability and support expansion efforts.
- Amount Raised: $500M
- Date: September 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund strategic initiatives and technological advancements.
- Amount Raised: $140M
- Date: September 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing projects and market expansion.
- Amount Raised: $600M
- Date: December 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial capabilities and support large-scale initiatives.
- Amount Raised: $300M
- Date: February 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and support future growth.
Total Amount Raised: $3.443B
Current Valuation: Not publicly disclosed
Key Investors
- BlackRock
- Details: BlackRock is one of the world's largest asset management firms, headquartered in New York City. It offers a range of investment management, risk management, and advisory services for institutional and retail clients worldwide.
- Investment Focus Areas: Equities, fixed income, alternatives
- Notable Investments: Apple, Microsoft, Amazon
- JP Morgan Chase
- Details: JP Morgan Chase is a leading global financial services firm based in New York City. It provides a wide range of financial services, including investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and private equity.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Uber, Airbnb, Robinhood
- UBS O'Connor
- Details: UBS O'Connor is the hedge fund unit of UBS, a Swiss multinational investment bank and financial services company. It specializes in alternative investments and hedge fund management.
- Investment Focus Areas: Hedge funds, alternative investments
- Notable Investments: Not publicly disclosed
- Valley Bank
- Details: Valley Bank is a regional bank in the United States, providing a range of banking services. It is known for its strong community presence and customer service.
- Investment Focus Areas: Regional banking, lending
- Notable Investments: Not publicly disclosed
- Israel Discount Bank
- Details: Israel Discount Bank is one of Israel's major banks, offering a wide range of banking and financial services. It has a significant presence in both retail and corporate banking sectors.
- Investment Focus Areas: Banking, financial services
- Notable Investments: Not publicly disclosed
What's Next for Pagaya?
Pagaya's future looks promising with the recent $280 million credit facility, which opens doors for strategic mergers and acquisitions. This significant capital injection will enable the company to expand its network and invest in product innovation, enhancing its AI-driven financial solutions.
As Pagaya continues to grow, it may attract additional investments from top global asset managers and financial institutions. The company's focus on enhancing marketability for US institutional investors could further bolster its fundraising capabilities.
However, Pagaya will need to navigate challenges such as market volatility, regulatory hurdles, and competition within the fintech industry. Successfully addressing these issues will be crucial for sustaining its growth trajectory and achieving long-term success.
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