Some financial products are designed to make the customer’s life easier. Gal Krubiner, Chief Executive Officer of Pagaya Technologies, wants his company’s products to be life-changing.
Pagaya, an AI lending network, was co-founded by Krubiner and three others in 2016. Today, it’s firing on all cylinders. In March 2025, it announced the closing of a $500 million AAA-rated personal loan Asset-Backed Securities (ABS) transaction, just one month after closing a $300 million AA-rated auto loan ABS transaction and signing a new forward flow agreement with funds managed by Blue Owl Capital to purchase up to $2.4 billion in consumer loans.
It’s a dizzying number of new transactions, but it’s par for the course for Pagaya, which Krubiner co-founded at age 26 after three years working at UBS. Since its inception, it has raised more than $26 billion in ABS loans and entered 2025 on “the strongest footing in our history,” as Krubiner wrote in a letter to shareholders in February.
In a 2023 interview with McKinsey, Krubiner said the company was “as good as how we react and how we train the new models,” and as AI has exploded in the two years since that statement, Pagaya has been very good. In the same interview, Krubiner said it was important that his co-founders – specifically Chief Technology Officer Avital Pardo and Chief Revenue Officer Yahav Yulari – were his friends.
“Having people around you who are good-hearted, always challenging you, learning and trying to be the best—that’s influencing who you are and how you grow,” he said.
And grown they have, together, at a pace likely outracing their wildest dreams, nor do they show signs of slowing down. They’re changing lives, together, even faster.
