Pagaya is very similar to Upstart. Pagaya partners with a large list of other fintech lenders to use ML to do second-look underwriting on all their rejected loans. A couple of years ago, Pagaya was much smaller than Upstart, and now they are bigger. The credit markets seem to love Pagaya's structure and/or risk while shunning Upstart. Pagaya's recent ABS deal was 4x bigger than Upstart's. $Pagaya Technologies Ltd.(PGY)$ $Upstart Holdings, Inc.(UPST)$
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