Pagaya raises $25 million to manage asset-backed securities with AI

CEO Gal Krubiner said the cash infusion will fuel development of its technology and enable Pagaya to pursue real estate and other fixed-income assets like auto loans, mortgages, and corporate credit, and to expand its engineering team of about 20 data scientists and AI specialists. “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,” he said. “[Pagaya] provide[s] cutting-edge opportunities to our partners, paving the way for practical uses of AI in the … market, [and we] look forward to creating more opportunities like this in the future [and] to driving the adoption of AI in traditional finance.”

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