PGY

Pagaya Technologies Ltd. operates as a financial technology company that uses artificial intelligence and machine learning to provide credit solutions across consumer credit markets. Headquartered in New York City with operations in Israel, the company partners with banks, credit unions, and institutional investors to expand access to credit while managing risk. Pagaya's AI-driven platform analyzes large datasets to assess creditworthiness beyond traditional credit scores, enabling lenders to approve more borrowers and offering investors access to diversified credit portfolios. The company primarily focuses on personal loans, auto refinancing, and point-of-sale financing, originating billions of dollars in loans through its network of partners. Founded in 2016, Pagaya went public via a SPAC merger in June 2022, initially valued at approximately $8.5 billion before trading under the ticker PGY. The company employs over 500 professionals globally and has facilitated more than $20 billion in loan originations since inception. Pagaya generates revenue through fees from loan origination and asset management services provided to its institutional partners. The company has expanded its partnerships significantly, working with major financial institutions and fintechs to deploy its technology across various consumer credit verticals. As a technology provider rather than a lender, Pagaya maintains an asset-light business model while navigating evolving credit market conditions and regulatory environments.