Israeli fintech firm Pagaya is close to signing a merger agreement with special purpose acquisition firm (SPAC) EJF Acquisition Corp (Nasdaq: EJFA), according to people familiar with the matter. The deal will see Pagaya listed on Nasdaq at a valuation of $9 billion. Pagaya has developed a platform that allows lenders to analyze credit applications using artificial intelligence and machine learning techniques. The P2P platform makes financial transactions more efficient, allowing lenders to extend more credit and enabling more people to borrow more money. Related Articles The company was founded in 2016 by CEO Gal Krubiner, Yahav Yolzari (former Bnei Yehuda goalkeeper) and Avital Pardo. Bajaya has raised $146 million so far, including $102 million in a Series D funding round last year led by Singapore’s sovereign wealth fund (GIC). The company is said to be managing more than $2 billion in various debt options. With offices in New York and Tel Aviv, Bajaya focuses on the US debt market and has 350 employees. Clients include banks, credit card companies, auto finance companies, and the Wall Street Journal reports that Bajaya plans to expand into mortgages. Published by Globes, Israel business news – en.globes.co.il – September 15, 2021 Copyright Globes Publisher Itonut (1983) Ltd. 2021
Report: Israeli fintech firm Pagaya to offer $9 billion SPAC deal
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