Based in New York and Tel Aviv, Pagaya operates an artificial-intelligence network to make financial transactions like lending more efficient and give more people the ability to borrow. Backed by investors including Singapore sovereign-wealth fund GIC Pte. Ltd., former American Express Co. CEO Harvey Golub and the venture capital arm of insurer Aflac Inc., Pagaya is raising about $200m in a PIPE associated with its SPAC deal.
Working in new markets gives Pagaya’s network even more data, improving the platform and speeding up the firm’s growth, Mr. Krubiner said in an interview. “The amount of disruption that is happening here is really, really huge,” he said.