Who Owns Pagaya Company?

Pagaya Bundle

Get Full Bundle:

	BCG	$15	$10
	5 FORCES	$15	$10
	CANVAS	$15	$10
	4P's MIX	$15	$10
	PESTLE	$15	$10
	SWOT	$15	$10

TOTAL:

ADD TO CART

Who Owns Pagaya Technologies?

Understanding the ownership structure of a company like Pagaya Technologies Ltd. is crucial for grasping its strategic direction, governance, and long-term accountability. A pivotal event in Pagaya's ownership evolution was its transition to a publicly traded company on June 23, 2022, through a business combination with EJF Acquisition Corp., a special purpose acquisition company (SPAC). This move marked a significant milestone, opening its ownership to public shareholders and institutional investors.

Pagaya Technologies, founded in 2016, is a global financial technology company headquartered in New York City and Tel Aviv. Its founders envisioned a platform that leverages artificial intelligence (AI) and machine learning (ML) to analyze vast amounts of data for credit assessment, aiming to revolutionize the credit ecosystem. By partnering with banks, fintechs, and other lenders, Pagaya’s AI-driven network helps expand lending capacity and offer more inclusive financial products, ultimately broadening access to credit for consumers.

As of July 2025, Pagaya maintains a market capitalization of approximately $2.35 billion, reflecting its position as a significant player in the AI-powered financial infrastructure sector. The company reported strong financial results for Q1 2025, achieving GAAP net income of $8 million, a significant turnaround from a $21 million loss in Q1 2024. This sets the stage for exploring Pagaya's ownership evolution, including the stakes held by its founders, key investors, and public shareholders, alongside the shifts that have occurred over time. The company's innovative approach is exemplified by its Pagaya BCG Matrix analysis, which helps strategize its product portfolio.

Pagaya Technologies ownership is a dynamic landscape, with significant influence held by its founding team and early investors, alongside a growing base of public shareholders. The transition to a public entity means that a substantial portion of the company's stock is now owned by institutional investors and individual traders who have acquired shares on the open market. Identifying the largest investors in Pagaya is key to understanding who controls Pagaya Technologies and its future direction. Pagaya Technologies investor relations actively communicates with these stakeholders.

The ownership structure of Pagaya is a blend of insider and public holdings. While specific percentages can fluctuate, the founders and key management personnel typically retain significant stakes to align their interests with the company's long-term success. Understanding the Pagaya Technologies ownership breakdown provides insight into the company's governance and strategic decision-making processes. The Pagaya Technologies board of directors plays a crucial role in overseeing the company's operations and representing shareholder interests.

Pagaya shareholders benefit from the company's growth and innovation in the fintech space. As a publicly traded company, Pagaya Technologies stock ownership is distributed among various entities, including mutual funds, exchange-traded funds (ETFs), and individual investors. The Pagaya ownership history shows a clear path from private inception to public trading, reflecting a strategic move to access capital and enhance visibility. This evolution is vital for anyone seeking to understand Pagaya Technologies financial ownership.

Pagaya Technologies was established in 2016 by three friends and entrepreneurs: Gal Krubiner, who leads the company as CEO, Avital Pardo, serving as Chief Technology Officer, and Yahav Yulzari, who holds the position of Chief Business Officer. Their combined expertise spans finance, real estate, and data science, with Pardo having been an early data scientist at Fundbox, where his work on algorithms was foundational to Pagaya's AI-driven credit model. Krubiner's background includes significant experience in structuring and distributing complex credit and asset-backed securities from his tenure at UBS AG, while Yulzari leverages his entrepreneurial background in real estate to oversee the company's commercial growth and global operations. Sanjiv Das joined Pagaya in 2023 as President, bringing over three decades of experience in the financial services sector.

The foundational ownership of Pagaya Technologies is rooted in the vision of its co-founders to utilize artificial intelligence within the consumer credit market, particularly in areas that are underserved. While the precise initial equity distribution among the founders is not publicly disclosed, their shared entrepreneurial drive was key to the company's inception. The early stages of Pagaya saw substantial investment from prominent venture capital firms, which provided essential capital for its initial development and subsequent expansion. This early backing established a foundational ownership structure that balanced founder control with strategic investment from external parties.

Founding Team

Pagaya Technologies was co-founded in 2016 by Gal Krubiner, Avital Pardo, and Yahav Yulzari.

Key Roles

Gal Krubiner is the CEO, Avital Pardo is the CTO, and Yahav Yulzari is the Chief Business Officer.

Founder Expertise

The founders bring diverse experience in finance, real estate, and data science.

Early Backing

Notable investors like Oak HC/FT, Viola Group, and GIC provided crucial early capital.

Funding Rounds

The company raised $146 million across 10 funding rounds in its early stages.

Strategic Vision

The company's core mission involves leveraging AI for underserved consumer credit markets.

Early Ownership Structure

The initial ownership of Pagaya Technologies was a blend of founder equity and strategic investments from venture capital firms. This early backing was instrumental in the company's growth trajectory, supporting its technological development and market expansion efforts. Understanding the Growth Strategy of Pagaya provides further context on how this ownership structure facilitated its early success.

• Founders: Gal Krubiner, Avital Pardo, Yahav Yulzari
• Key Investors: Oak HC/FT, Viola Group, GIC
• Total Early Funding: $146 million
• Number of Funding Rounds: 10
• Focus: AI in consumer credit
• President: Sanjiv Das (joined 2023)

Pagaya SWOT Analysis

• Complete SWOT Breakdown
• Fully Customizable
• Editable in Excel & Word
• Professional Formatting
• Investor-Ready Format

GET TEMPLATE ➔

Pagaya Technologies underwent a significant transformation in its ownership structure when it became a publicly traded entity on June 23, 2022. This transition occurred through a business combination with EJF Acquisition Corp., a special purpose acquisition company (SPAC). This strategic move enabled Pagaya to access public capital markets, thereby securing additional funding essential for its ongoing growth and expansion initiatives. As of July 2025, the company's market capitalization is valued at approximately $2.35 billion.

The current ownership of Pagaya is predominantly influenced by substantial institutional investments. As of July 17, 2025, a total of 271 institutional owners and shareholders have submitted 13D/G or 13F filings with the SEC, collectively holding over 30 million shares. Key institutional shareholders include Frontier Capital Management Co Llc, BlackRock, Inc., Goldman Sachs Group Inc, Two Sigma Investments, Lp, Millennium Management Llc, and Clal Insurance Enterprises Holdings Ltd. While earlier investors such as Viola Ventures Ltd. and GIC Private Ltd. held considerable stakes, recent filings indicate adjustments, with GIC Private Ltd., for example, reducing its holdings in July 2025. Pagaya operates with a dual-class share structure. Class A Ordinary Shares each carry one vote, whereas Class B Ordinary Shares are granted ten votes per share. This structure effectively centralizes voting power, often benefiting founders and early investors, allowing them to maintain significant influence over the company's strategic direction and governance, even as their economic ownership may be diluted over time.

The dual-class share structure is a critical element in understanding who controls Pagaya Technologies. This arrangement, where certain share classes possess superior voting rights, ensures that founders and early backers retain substantial decision-making power. This is a common strategy for companies seeking to maintain long-term vision and control, even as they grow and bring in new investors. Understanding Pagaya's ownership is key to grasping its strategic direction and governance, reflecting a balance between broad market participation and concentrated control, which is vital for those interested in Pagaya Technologies' financial ownership.

Key Aspects of Pagaya's Ownership

Pagaya's ownership structure is a blend of institutional backing and concentrated voting power.

• Became publicly traded in June 2022 via a SPAC merger.
• Market capitalization approximately $2.35 billion as of July 2025.
• Significant holdings by institutional investors like BlackRock and Goldman Sachs.
• Dual-class share structure concentrates voting power.
• Early investors continue to hold influence through Class B shares.

Pagaya PESTLE Analysis

• Covers All 6 PESTLE Categories
• No Research Needed – Save Hours of Work
• Built by Experts, Trusted by Consultants
• Instant Download, Ready to Use
• 100% Editable, Fully Customizable

GET TEMPLATE ➔

The governance of Pagaya Technologies is steered by its Board of Directors, a group comprising its founders, representatives from significant shareholder entities, and independent directors. The company's co-founders, Gal Krubiner (CEO), Avital Pardo (CTO), and Yahav Yulzari (CBO), are all active members of the board, underscoring their ongoing strategic leadership. Avi Zeevi chairs the board, bringing a wealth of experience from his background as a FinTech entrepreneur and investor, notably as a co-founder of the Viola group. Other key directors include Harvey Golub and Dan Petrozzo.

In a move to enhance strategic oversight, Pagaya welcomed two new independent directors in December 2024: Asheet Mehta and Alison Davis. Their appointments are intended to infuse the board with substantial expertise in financial services, banking, and technology, crucial for guiding the company's growth and maximizing shareholder value.

Pagaya's voting power is structured through a dual-class share system. Class A Ordinary Shares each carry one vote, while Class B Ordinary Shares are entitled to ten votes per share. This arrangement allows founders and early strategic investors, who typically hold Class B shares, to retain significant control over corporate decisions, even as their economic ownership stake may decrease over time. As of March 31, 2025, the company had 62,786,057 Class A Ordinary Shares and 12,652,310 Class B Ordinary Shares outstanding. The current governance structure appears stable, with no prominent reports of recent proxy battles or activist investor campaigns, highlighting the concentrated nature of voting control within Pagaya's ownership.

Understanding Pagaya's Ownership Structure

Pagaya Technologies employs a dual-class share structure that significantly influences voting power. This structure is key to understanding who controls the company's direction.

• Class A Ordinary Shares: 1 vote per share.
• Class B Ordinary Shares: 10 votes per share.
• As of March 31, 2025, there were 62,786,057 Class A shares and 12,652,310 Class B shares outstanding.
• This system concentrates voting control with founders and early investors.
• This structure is important when considering the Competitors Landscape of Pagaya.

Pagaya Business Model Canvas

• Complete 9-Block Business Model Canvas
• Effortlessly Communicate Your Business Strategy
• Investor-Ready BMC Format
• 100% Editable and Customizable
• Clear and Structured Layout

GET TEMPLATE ➔

Over the past three to five years, Pagaya Technologies has experienced significant operational and financial growth, which has naturally influenced its ownership landscape. The company's journey towards profitability has been a key factor, with a notable achievement of GAAP profitability earlier than initially projected. This positive financial trajectory impacts how investors perceive and engage with the company's stock.

Pagaya Technologies has demonstrated substantial financial progress, achieving GAAP profitability with a net income of $8 million in Q1 2025, a marked improvement from a $21 million loss in the prior year's first quarter. The company anticipates this trend to continue, forecasting a GAAP net income of approximately $17 million for Q2 2025. Total revenue surpassed $1 billion in 2024, with projections for 2025 revenue set between $1.15 billion and $1.275 billion. Network volume, a critical indicator of the platform's activity, reached $9.7 billion in 2024 and is expected to grow to between $10.25 billion and $11.75 billion in 2025. The company has also strengthened its funding network, securing $1.4 billion in Q1 2025 through three transactions and significantly expanding its partnership with Castlelake via a $2.5 billion loan deal in July 2025. These financial strategies suggest a focus on capital efficiency and a reduced reliance on new equity. Institutional ownership remains a strong component of Pagaya's shareholder base, with 271 institutional holders as of July 2025. However, the ownership structure is also dynamic, as seen with insider selling, such as Director Dan Petrozzo selling 8,484 Class A Ordinary Shares for over $255,000 on July 18, 2025, under a pre-arranged trading plan. This mix of institutional backing and insider activity shapes the current Pagaya ownership.

The ownership structure of Pagaya Technologies is characterized by a significant presence of institutional investors, indicating confidence in the company's growth and operational strategy. While institutional holdings are substantial, understanding the specific breakdown of Pagaya shareholders requires a closer look at filings and market data, which can reveal the largest investors in Pagaya and their respective stakes.

Institutional Investor Activity

As of July 2025, Pagaya Technologies has 271 institutional holders. This large number of institutional investors suggests broad market confidence in the company's business model and future prospects. These entities often play a significant role in shaping the company's direction through their investment decisions.

Insider Transactions and Ownership

Insider selling, such as Director Dan Petrozzo's sale of shares in July 2025, is a normal part of a publicly traded company's lifecycle. These transactions, often conducted under pre-arranged plans, provide insights into individual executives' financial strategies but do not necessarily indicate a negative outlook for the company. Understanding Pagaya's target market is crucial for evaluating the company's overall strategy.

Financial Health and Ownership Trends

Pagaya's move towards profitability and its strong revenue growth in 2024 and 2025 are key drivers influencing its ownership trends. The company's ability to secure significant funding, like the $2.5 billion deal with Castlelake, demonstrates financial stability and can attract further investment, potentially altering the Pagaya Technologies ownership breakdown.

Pagaya Company Structure Overview

The Pagaya company structure is that of a publicly traded entity, meaning its shares are available for purchase by the general public and institutions. The ownership is distributed among various shareholders, including founders, employees, institutional investors, and retail investors. This structure allows for liquidity and broad participation in the company's growth.

Pagaya Porter's Five Forces Analysis

• Covers All 5 Competitive Forces in Detail
• Structured for Consultants, Students, and Founders
• 100% Editable in Microsoft Word & Excel
• Instant Digital Download – Use Immediately
• Compatible with Mac & PC – Fully Unlocked

GET TEMPLATE ➔