This past year has been monumental for us at Pagaya — we closed a $75 million debt-financing deal with Citi and hired Ed Mallon (a 20-year BlackRock veteran) as our Chief Investment Officer. We now manage over $250 million in capital, mainly from institutional investors.
Today, we’re excited to announce that we’ve raised $14 million in Series B funding from Oak HC/FT, Harvey Golub (former chairman and CEO of American Express), and a diverse group of world-class investors. We’re also thrilled to welcome Harvey as a new board member, as well as Dan Petrozzo (Venture Partner at Oak HC/FT, former Partner & Global Head of Investment Management Technology at Goldman Sachs, and former Chief Investment Officer of Fidelity Investments).
It’s an honor to have support from finance industry veterans who believe in Pagaya’s long-term vision: to reshape asset management using AI — forever changing how institutional money gets managed.
Pagaya is at the forefront of the AI revolution in the fast-paced fintech industry, and our state-of-the-art algorithm consistently delivers better returns for institutions. The investment validates the strength of Pagaya’s mechanics and all of the hard work our team has put into developing such high-quality technology. We would not be here today without the dedication of everyone part of the Pagaya family.
Thank you to Oak HC/FT, Harvey, all our investors (GF Investments, Siam Commercial Bank, Clal Insurance Ltd., and Viola Group), our partners, friends, and followers! We are humbled by your support and fueled by your belief in Pagaya’s mission.
This is the beginning of many great things to come.