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. Combined, the two companies have completed 3 known funding rounds.

Perfios leads with an Awaira Score of 90/100, while Pagaya sits at 70/100. That 20-point gap reflects real differences in funding, scale, and traction — it's not a vanity metric.

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 operates in the AI Finance sector and is headquartered in India. Founded in 2008 by V R Govindarajan, Perfios has raised $229M in total funding, achieving a valuation of $1B as of its latest round. The company's funding journey includes a Series C of $50M in 2022, a Series D of $80M in 2023. The most recent round was led by Warburg Pincus. With approximately 500+ employees, Perfios has established itself as a Series D-stage player in the AI Finance market. The company holds an Awaira Score of 90/100, reflecting its strong position across valuation, funding trajectory, team scale, and market influence. Perfios competes in a rapidly evolving segment alongside other AI Finance companies. As part of India's growing AI ecosystem, Perfios is positioned to capitalize on the region's expanding tech talent pool and enterprise demand. The AI Finance space has attracted significant investment in recent years, with companies racing to capture enterprise and consumer demand for AI-powered solutions.

Perfios got there first, launching in 2008 — that's 8 years of extra runway. Pagaya didn't arrive until 2016. In AI, that kind of head start means more training data, deeper customer relationships, and a bigger talent moat.

Pagaya has about 500-1000 employees; Perfios has about 500+. A bigger team usually means more revenue or heavier VC backing, but in AI, small teams can build at massive scale.

Yes — they're direct rivals. Both Pagaya and Perfios compete in AI Finance, targeting many of the same buyers. If you're evaluating one, you should be looking at the other.