Pagaya vs Perfios

Perfios has a disclosed valuation of $1B, while Pagaya's valuation is not publicly available, making a direct size comparison difficult. Perfios employs 500+ people.

Pagaya has raised more in total funding at $600M, compared to Perfios's $229M — a gap of $371M.

Perfios holds the higher Awaira Score at 90/100, compared to Pagaya's 70/100. The Awaira Score is a composite metric factoring in valuation, funding, stage, team size, and market presence — a 20-point gap that reflects meaningful differences in scale or traction.

Pagaya was founded by Gal Krubiner in 2016. Perfios was founded by V R Govindarajan in 2008. Visit each company's profile on Awaira for a full founder biography.

Pagaya: Pagaya operates an AI financial underwriting network that processes consumer loan applications on behalf of lenders, using machine learning models that evaluate creditworthiness across a broader set of data signals than traditional credit bureau scores, enabling lenders to approve more applicants while maintaining or improving default rates. The Tel Aviv and New York company monetises by taking a network fee on loan volume processed through its AI underwriting system, funded by institutional investors who purchase the approved loan pools.\n\nThe company went public on NASDAQ via SPAC merger, having raised over $600 million in combined public and private funding from investors including Oak HC/FT and Viola Growth. Pagaya reports processing hundreds of billions of dollars in loan applications annually across personal loans, auto loans, and mortgage products, with network partners including SoFi, Ally Financial, and US Bank embedded in its origination technology. The business model operates as an AI network sitting between lenders who originate applications and institutional investors who fund approved loans.\n\nPageya competes in the AI credit underwriting market against ZestFinance, Upstart, and traditional credit bureau scoring models from Fair Isaac. Its network model, where multiple lenders access the same AI infrastructure and their collective data improves model performance over time, creates compounding advantages compared to single-lender AI implementations. The company has navigated regulatory scrutiny around AI lending decisions and disparate impact as financial regulators increase oversight of alternative data use in credit decisions. Perfios: Perfios is a financial data aggregation and analytics platform that connects lenders, banks, and insurers with real-time financial data from bank statements, income tax returns, and account aggregator networks, enabling automated credit underwriting, fraud detection, and financial health assessment for retail and MSME lending. The platform processes tens of millions of financial data requests annually for a customer base spanning major banks, NBFCs, and fintech lenders.\n\nThe company raised approximately $229M in funding, achieving unicorn status, and has expanded beyond India into markets in Southeast Asia and the Middle East. Perfios serves over 900 financial institutions and has integrated with India's Account Aggregator framework, positioning itself as critical infrastructure for the country's open banking ecosystem.\n\nPerfios occupies a strategically valuable position in India's credit infrastructure — nearly every significant lender in the country uses its data analytics capabilities for loan decisioning. This embedded position across the lending stack creates strong network effects and switching costs that compound as the Indian credit market continues its rapid expansion.

Perfios was founded first in 2008, giving it 8 years of additional market experience. Pagaya was founded later in 2016. In AI, even a year or two of head start can translate into significantly more training data, customer relationships, and institutional knowledge.

Pagaya has approximately 500-1000 employees, while Perfios has approximately 500+. A larger team often signals higher revenue or venture backing, but in AI, smaller teams are increasingly capable of building at scale.

Yes, Pagaya and Perfios are direct competitors — both operate in the AI Finance space and likely target overlapping customer segments. This comparison is especially relevant for buyers evaluating both platforms.