Pagaya

Pagaya Technologies is an Israeli-American financial technology company headquartered in New York City that operates as a B2B lending infrastructure provider. The company was founded in 2016 by Gal Krubiner, Avital Pardo, and Yahav Yulzari and has been publicly traded on the NASDAQ under ticker PGY since June 2022. Pagaya deploys artificial intelligence and machine learning technology to evaluate loan applications and expand access to credit for financial institutions. The company operates through a B2B2C model, partnering with over 30 banks, fintech companies, and lenders including U.S. Bank, Ally, SoFi, LendingClub, Prosper, Klarna, and Visa. Through API integration, when a bank partner rejects a loan application, the anonymized data can be forwarded to Pagaya for secondary assessment. The platform analyzes applications using big data and machine learning algorithms, offering alternative credit decisions while the partner retains the customer relationship and receives servicing fees. Pagaya assumes the credit risk and funds loans through forward flow agreements, asset-backed securities, and proprietary credit funds. The company is active in multiple credit segments including unsecured consumer loans, auto loans, credit cards, buy-now-pay-later products, and real estate financing. By 2024, Pagaya had evaluated approximately 2.6 trillion dollars in loan applications and facilitated around 28 billion dollars in cumulative loan volume. The company achieved profitability in 2025 with four consecutive quarters of GAAP net income. In October 2024, Pagaya acquired Theorem Technology, increasing its assets under management to over 3 billion dollars. The company maintains development operations in both New York and Tel Aviv. This entity should not be confused with PagaYa, a separate Mexican payment solutions company founded in 2016 and based in Mexico City.