Fintech startup Pagaya raises $75 million in debt finance from Citi [Reuters (UK)]
Citigroup, Inc. (C)
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Source: Reuters
Fintech startup Pagaya raises $75 million in debt finance from Citi | Reuters Reuters Staff 1 Min Read JERUSALEM (Reuters) - Pagaya Investments, a U.S.-Israeli financial technology provider that uses machine learning and big data analytics to manage institutional money, said on Tuesday it raised $75 million in debt financing from Citi. Founded in 2016, Pagaya has raised $200 million in capital, mainly from institutional investors. The company also said it has created the Opportunity Fund, a leveraged fund suite created by Pagaya using the debt financing. Prosper, an online lending platform, will sell loans to the Opportunity Fund, Pagaya said. “This transaction is a great example of the continuing evolution of consumer credit as an asset class and growth opportunity,” said Ari Rosenberg, head of consumer finance at Citi. Reporting by Steven Scheer; Editing by Tova Cohen All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2018 Reu
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