Former CEO & Co-Founder, Pagaya
Search every verified Gal Krubiner interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Gal Krubiner, former CEO and co-founder of Pagaya, has discussed the company's evolution from an AI-driven asset manager to a provider of AI infrastructure for lenders in the U.S., aiming to increase credit access. He stated that Pagaya reached $1 billion in revenues and profitability within eight years, and that going public was a strategy for transparency rather than an exit. Krubiner noted that the company's valuation peaked at $8.5 billion before declining to around $1.3 billion as of a 2023 interview. He described the U.S. institutional environment as critical for scaling a global fintech company and emphasized that Pagaya's model approves 20 more funded loans per lender using its systems. Krubiner has commented on consumer credit trends, observing that in 2023, consumers remained a strong part of the economy but faced reduced credit availability as lenders and mid-sized banks pulled back, leading to higher decline rates. He mentioned Pagaya's AI network includes over 25 lenders and has processed data on millions of active users and over 100 million users overall. Krubiner also discussed potential M&A, citing GreenSky as an appealing merchant network for point-of-sale lending, and noted that generative AI could further transform lending by managing emotional and planning aspects of repayment. He acknowledged that Pagaya has debated taking balance-sheet risk itself as it grows.
“We started as an asset management using AI, but the financial markets became too efficient and electronic-driven, so we pivoted to helping lenders in the US use the same technology to approve more loans and say yes to more customers.”
“Pagaya reached $1 billion in revenues and profitability within less than eight years from founding, driven by a volume-based business model that grows as customers and usage grow.”
“In fintech, you should not be afraid to go deeper into finance; technology is an enabler, but the industry requires risk-taking, balance sheet-heavy, and volume-based business models to unlock massive company growth.”
“Going public is a strategy, not an exit; it forces transparency and accountability, which is the best feedback loop to keep companies alive and improving for many years.”
Gal Krubiner, Co-Founder & Chief Executive Officer of Pagaya, breaks down how the tech company is bringing artificial intelligence infrastructure to the financial ecosystem, how macro trends including interest rates and inflation are impacting the consumer credit market, and upcoming M&A strategy. Pagaya went public via SPAC in 2021 and trades on the Nasdaq under the symbol PGY. Krubiner explains why the company's valuation has dipped significantly from $8.5 billion to about $1.3 billion as of this interview, while also sharing upcoming growth catalysts investors should keep on their radar.…
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