# Pagaya Technologies Ltd.

Pagaya Technologies Ltd. is a publicly traded fintech platform and asset manager based in Tel Aviv-Yafo, Israel.

## Overview

- **Organization type:** publicly traded fintech platform and asset manager
- **Headquarters:** Tel Aviv-Yafo, Israel
- **Region:** Middle East
- **Address:** Tel Aviv-Yafo, Israel
- **Founded:** 2016
- **Assets under management:** Undisclosed
- **Website:** pagaya.com
- **LinkedIn:** https://www.linkedin.com/company/pagaya

## Regulatory record

- **Reports private funds:** No

## About

Pagaya Technologies was founded in 2016 by Gal Krubiner, Yoram Teitelbaum, and Avital Pardo. The founders brought backgrounds in AI research and finance, aiming to use machine learning to underwrite consumer loans that traditional credit scoring misses. The company is headquartered in Tel Aviv with a second office in New York. Pagaya operates a two-sided platform: its AI models score loan applicants for partner lenders, and its investment management arm bundles those loans into asset-backed securities sold to institutional investors. The firm originated $9.3B in loan volume in 2024 (per Pagaya press release, January 2025). Asset classes include personal loans, auto loans, and point-of-sale credit. Geographic focus is the United States. Pagaya went public in June 2022 via a merger with a SPAC backed by EJF Capital, raising roughly $550M in gross proceeds (per SEC filing, June 2022). The firm employs over 600 people as of 2025. Pagaya also runs a network of partner lenders — including SoFi, LendingClub, and Upstart — who originate loans on its behalf. Pagaya's structural differentiator is its AI-first credit underwriting combined with a closed-loop securitization model — it does not warehouse risk but matches loans to institutional buyers at origination. The platform's public-company governance and regulatory filings provide transparency uncommon for private credit managers.

## Sectors

- FinTech
- AI/ML
- Private Credit
- Consumer Finance

## Offices

- New York, United States

## People

- Gal Krubiner — Co-Founder and Chief Executive Officer
- Yoram Teitelbaum — Co-Founder and Chief Technology Officer
- Avital Pardo — Co-Founder and Chief Operating Officer

## Questions

### Who runs investment decisions at Pagaya?

Pagaya's investment decisions are led by co-founders Gal Krubiner (CEO), Yoram Teitelbaum (CTO), and Avital Pardo (COO), who oversee the company's AI models and loan-securitization strategy.

### How does Pagaya source proprietary deal flow?

Pagaya originates loans through a network of partner lenders—including SoFi, LendingClub, and Upstart—who use its AI platform to identify borrowers. Pagaya then packages those loans into asset-backed securities sold to institutional investors.

### Does Pagaya participate in fund commitments or only direct deals?

Pagaya primarily operates through direct loan originations and securitizations, not through traditional fund vehicles. It matches each loan pool with specific institutional buyers at the point of origination.

### What investment stages does Pagaya typically target?

Pagaya focuses on consumer credit originations—personal loans, auto loans, point-of-sale loans—rather than venture stages. Its model is cash-flow generative at scale, not equity-risk based.

### Which sectors does Pagaya explicitly avoid?

Pagaya avoids all asset classes outside consumer credit, such as real estate, corporate debt, or venture capital. The firm's mandate is exclusively consumer loan securitization.

### How is Pagaya related to its partner lenders?

Pagaya is not an owner of partner lenders like SoFi or LendingClub; it operates as a technology and capital markets partner. Partner lenders use Pagaya's AI to identify borrowers, then Pagaya arranges institutional capital to fund those loans.

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Last updated: 2026-06-03T20:00:00.000Z

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