TEL AVIV – U.S.-Israeli Pagaya, which makes use of synthetic intelligence (AI) to handle institutional cash, stated on Thursday it’s issuing a $115 million client credit score asset-backed safety (ABS) led by structuring agent Cantor Fitzgerald.
This transaction is Pagaya’s largest to-date and the third in six months, bringing whole belongings below administration to greater than $750 million.
Pagaya partnered with Prosper Market for this transaction.
Pagaya’s AI analyses hundreds of thousands of information factors to pick and buy particular person loans as a substitute of scrutinizing a pool of beforehand assembled belongings.
In April it raised $25 million in a funding spherical led by Oak HC/FT.