Fintech Startup Pagaya Nears $9 Billion SPAC Deal

Pagaya Technologies Ltd. is close to an agreement to go public through a merger with a special-purpose acquisition company that would value the financial-technology startup at about $9 billion, according to people familiar with the matter.

Based in New York and Tel Aviv, Pagaya operates an artificial-intelligence network to make financial transactions like lending more efficient and give more people the ability to borrow money. Banks and other financial-services providers use its platform, which analyzes troves of data to help partners serve more customers, Pagaya says.

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