Pagaya Agrees to Acquire Theorem Technology

Pagaya Technologies (NASDAQ: PGY) says it has inked a deal to acquire Theorem Technology.

Pagaya is a credit qualification platform that uses alternative methods and artificial intelligence to provide its service. Its methodologies are said to convert around 30% more customers than traditional methods.

Theorem is an institutional asset manager focused on the consumer credit space, managing assets for global institutional investors for more than a decade.

The acquisition of Theorem is expected to close in Q4 2024 and be accretive in 2025 while boosting diversification and capital efficiency for Pagaya.

The combined operation is expected to grow Pagaya’s fund management business to more than $3 billion of capital in investment vehicles separate from the company’s securitization program.

In addition to its existing investment opportunities, investors in Theorem’s credit funds will now have access to credit assets generated by Pagaya’s network of 30 of the top lenders in the US, including over $180 billion of application volume per quarter.

Pagaya’s CEO, Gal Krubiner, said they are excited about the transaction sharing he has known the team at Theorem for several years.

“I believe that their institutional fund management expertise will sharpen Pagaya’s already market-leading capabilities. In addition, Theorem will have access to the Pagaya network’s unique investment sourcing flow, and Pagaya will be able to fully take advantage of the impressive machine learning investment technology that underlies Theorem’s private credit investment platform.”



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Disclosure Quest

Reg A - Form 1-A Filings Beta

Beta. Initial Form 1-A only. Target raise is the stated Amount to be Raised, totaled. Compared with the same dates one year earlier.

YTD: Jan 1, 2026 - Nov 5, 2026 vs Jan 1, 2025 - Nov 5, 2025

Share this graph
Number of Filings134Prior 129 +3.9%
Target Raise, Total$3.45BPrior $3.59B -3.8%
This YTDYear priorChange
Filings 134 129 +3.9%
Target raise $3.45B $3.59B -3.8%

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Source: DisclosureQuest. Initial Form 1-A only.

Created by Crowded Media Group

This display counts initial Form 1-A filings only. It does not represent subsequent filings, including Form 1-A/A amendments or Form 1-A POS post-qualification updates filed by the issuer. Amounts are the stated Amount to be Raised on the initial filing, not capital raised and not amounts revised in later filings.

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