Global Fintech Pagaya Raises $25 Million Through Series C Funding Round Led By Oak HC/FT

Just a little over six months after securing $14 million through its Series B funding round, global fintech Pagaya has secured $25 million through its Series C funding round, which was led by Oak HC/FT with participation from Viola Ventures, Clal Insurance Ltd., GF Investments, Harvey Golub (Pagaya board member and former Chairman and CEO of American Express), and Siam Commercial Bank (through its Digital Ventures arm).

FintechAs previously reported, Pagaya was launched in 2016 by Yahav Yulzari, Avital Pardo and Gal Krubine and has raised more than $200 million to date mainly from institutional investors. Pagaya, headquartered in both Tel Aviv and New York City, incorporates big data and machine learning to boost asset management performance.  The company reported that it is on a mission to reshape the asset management space using machine learning and big data analytics to manage institutional money.

Pagaya reported that in the three years since launch, it has grown to manage $450 million for banks, insurance companies, pensions funds, asset managers and sovereign wealth funds all looking to find new sources of attractive risk-adjusted returns and capitalize on the efficacy and efficiency of Pagaya’s AI. Gal Krubiner, Pagaya’s CEO and Co-Founder, commented:

“We’re thrilled to have the continued support of our investors. We are seeing the amazing potential of AI to disrupt asset management and this capital will accelerate our effort.”

Dan Petrozzo, Venture Partner at Oak HC/FT, former Partner and Global Head of Investment Management Technology at Goldman Sachs, and former Chief Information Officer of Fidelity Investments, went on to add:

“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.”

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