Pagaya Raises $25M

Pagaya , the Israeli company managing institutional assets using machine learning and big data, has raised $25m in a Series C round led by Oak HC/FT, with participation from Viola Ventures, Clal Insurance, GF Investments, SCB Group, and former chairman and CEO of American Express and Pagaya board member Harvey Golub.

Founded in 2016, Pagaya’s algorithm analyzes millions of data points to assess risk in different financial instruments, identify emerging alternative asset classes and generate an excess return in those sectors for institutional investors. The company currently manages $450m for banks, insurance companies, pensions funds, asset managers and sovereign wealth funds, and will use the latest investment to develop its technology further and pursue new asset classes, such as real estate, auto loans, mortgages and corporate credit.

“We’ve seen first-hand what the Pagaya team can accomplish. 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.” – Venture Partner at Oak HC/FT, Dan Petrozzo.