Pagaya uses artificial intelligence (AI) for asset management and institutional investment. The company aims to use the investment to hire more data scientists, develop its technology, continue its pursuit of new asset classes, such as real estate, and other fixed-income assets like auto loans, mortgages, and corporate credit.
The round was led by Aflac Global Ventures, with participation from: Poalim Capital Markets, Viola, Oak HC/FT, Harvey Golub, Clal Insurance, GF Investments, and Siam Commercial Bank (through its digital ventures arm).
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