Pagaya

Data-driven Investment Manager

Fintech & Insurtech
Public on NASDAQ on Jun 2022

Company Overview

Snapshot

Founded in March 2016 by Gal Krubiner, Yahav Yulzari, and Avital Pardo, Pagaya operates with 201–500 employees. The company has raised a total of $433.55 million across 13 funding rounds from 18 investors. In June 2022, Pagaya went public on NASDAQ.

Business overview

Pagaya is a data-driven investment manager specializing in the fixed income and alternative credit markets. The company leverages a proprietary technology suite that incorporates advanced machine learning and big data analytics to develop new approaches to investment management. Pagaya serves a diverse client base, including banks, pension plans, foundations, and private wealth, operating within the Fintech & Insurtech sector.

Strategic signal

In September 2024, Pagaya announced the pricing of an upsized $140 million exchangeable senior notes offering at a 45% exchange premium. This move signals strong investor confidence in the company's financial health and future growth prospects, providing additional capital for strategic initiatives and market expansion.

Company Intelligence Q&A

What was a significant recent financial event for Pagaya?
In September 2024, Pagaya priced an upsized $140 million exchangeable senior notes offering at a 45% exchange premium, demonstrating continued investor interest in the company's financial instruments.
What was a key partnership announced by Pagaya in 2023?
In September 2023, Pagaya announced a partnership with Westlake Financial, highlighting the growing strength of Pagaya’s auto product in the market.
When did Pagaya go public?
Pagaya went public on NASDAQ in June 2022, following the approval of a proposed business combination with EJF Acquisition Corp.
What was a notable acquisition made by Pagaya?
In January 2023, Pagaya acquired Darwin Homes, expanding its portfolio and strategic capabilities.
Which investors participated in Pagaya's February 2024 debt financing round?
In February 2024, Pagaya secured debt financing from investors including BlackRock and JPMorgan Chase.

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