Israel based fintech company, Pagaya secured $102M in Series D Funding

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Pagaya


Pagaya, an Israel based global fintech company using AI to reshape asset management and institutional investment, secured $102 million in Series D funding round.

Pagaya is founded by the Gal Krubiner in the year 2016. It is a financial technology company that focuses on asset management using big data analytics and machine learning to manage institutional money.

The company leverages AI tech to manages $1.6 billion of assets for insurance companies, asset managers, sovereign wealth funds, and banks, notes the announcement.

Executive Opinion

Gal Krubiner, CEO of Pagaya, said, "The world is changing quickly, and investors need a performance edge - more and more are turning to Pagaya. 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."

Pagaya chairman and Viola Venture co-founder and general partner Avi Zeevi, said, "Working with Pagaya’s exceptional founding team has been an amazing experience. Through their vast understanding of financial markets and unmatched technological expertise, they’ve disrupted global asset management and have solidified their rank as an industry leader."

Pagaya's Latest Funding

The round was backed by the prominent strategic financial institution. Siam Commercial Bank, Poalim Capital Markets, Harvey Golub, Aflac Global Ventures, and GF Investments participated in the Series D funding round.

The company, as of now, has plans to use the new funds to hire data scientists, develop its technology further and continue its pursuit of new asset classes.
PC: Pablo, Pixabay

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details
Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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