Participated · Series A · Nov 2025

Founded in 2024 by Clarence Chio and Kao Zi Chong, San-Francisco-based Coverbase provides a security-first, AI-driven platform that automates third-party risk assessment and broader procurement workflows. The software integrates sourcing, intake, contract management, and purchase-order creation while continuously monitoring vendor risk, replacing manual questionnaires with real-time intelligence. More than 40 customers—including Nationwide Insurance, Coinbase, Okta, and Navy Federal Credit Union—report 90-92 percent reductions in procurement workload, which the company equates to roughly $180 million in saved labor hours. Designed for highly regulated industries, the platform positions procurement as a decision-making engine rather than a bottleneck, helping organizations deploy new technologies faster and more securely. With fresh capital, Coverbase plans to extend its reach beyond financial services into healthcare, pharmaceuticals, and other regulated sectors, while adding features such as spend analysis, contract intelligence, and invoicing. The company’s mission is to embed security, risk, and compliance into every supplier interaction at Fortune 500 companies, banks, and security-conscious enterprises. To date, Coverbase has raised $20 million in venture funding.

Participated · Debt Financing · Feb 2024

Pagaya Technologies builds AI-driven product solutions for the financial ecosystem, focusing on expanding its network of lending and investor partners. The company recently pre-announced full-year 2023 results with Network Volume exceeding $8.2 billion and Adjusted EBITDA above $75 million, implying an annualized run-rate Adjusted EBITDA of over $110 million based on Q4 2023. Pagaya plans to use new financing to invest in product innovation and grow its network with both existing and new lending and investor partners. In the prior four months it secured four new lending partners, including a top bank and a top auto captive, expected to drive transformational network expansion. The company emphasizes transforming the consumer finance ecosystem as it scales and extends its corporate debt maturity to 2029. Pagaya builds AI and advanced-analytics infrastructure to increase access to financial products and services across its network. The company leverages machine learning to power origination and credit solutions and has expanded via strategic acquisitions, including its January 2023 purchase of Darwin Homes to extend its SFR platform. Pagaya says it is pursuing further M&A to combine complementary, founder-led fintechs into a broader integrated offering. Management expects to be at the high end of or exceed its Q1 2023 guidance for Network Volume, Total Revenue and Other Income, and Adjusted EBITDA. Year-to-date the company has executed approximately $2.0 billion of capital raises in the asset-backed securitization market, and it reports an expanding and diversifying investor base. GIC has increased its investment and extended its fund agreement for three more years, supporting Pagaya’s growth plans. Pagaya is a fintech that uses machine learning and big data analytics via its Pagaya Pulse platform to manage institutional money, with a focus on fixed income and alternative credit. The firm offers a variety of discretionary funds to institutional investors, including pension funds, insurance companies, and banks. Since launching, Pagaya has grown to manage over $1.6 billion in assets and its total consumer credit ABS issuance has surpassed $1 billion. The company effectively reopened the consumer credit ABS market with a $200 million ABS fully managed by its AI and has completed seven ABS deals to date. Pagaya plans to use new investment to hire more data scientists, further develop its technology, and pursue new asset classes such as real estate, auto loans, mortgages, and corporate credit. The company was founded in 2016 and is headquartered in New York and Tel Aviv. Pagaya operates an AI-driven asset management platform (Pagaya Pulse) that applies machine learning and big data analytics to underwrite and manage fixed‑income and alternative credit assets. Its asset management team of 30 data scientists and AI specialists analyzes hundreds of millions of data points and economic and market data to perform bottom-up underwriting and risk assessment. Pagaya manages $450 million for banks, insurance companies, pension funds, asset managers and sovereign wealth funds. The company recently created a $100 million consumer credit ABS fully managed by AI. Pagaya plans to use new capital to further develop its technology and expand into new asset classes such as real estate, auto loans, mortgages and corporate credit. The company was founded in 2016 and has offices in New York and Tel Aviv. Pagaya applies machine learning and big-data analytics through its Pagaya Pulse platform to manage institutional capital, with a focus on fixed income and alternative credit. The company offers discretionary funds to institutional investors including banks, insurance companies, pension funds, asset managers and high-net-worth investors. Its algorithm analyzes millions of data points to assess risk, identify emerging alternative asset classes (for example, consumer credit lending) and seek excess returns. Pagaya plans to use new funding to further develop its proprietary algorithm, enter new data-rich asset classes, expand its roughly 20-person investment team of data scientists and AI specialists, build a global sales force, and launch new investment strategies. Financially, Pagaya manages $250 million in capital and recently closed a $75 million debt financing with Citi; it also hired Ed Mallon as Chief Investment Officer. The company was co-founded in 2016 and maintains offices in New York and Tel Aviv.

Participated · Series B · Oct 2022

Finexio provides an Accounts Payable Payments-as-a-Service platform embedded within Procure-to-Pay suites that automates and digitizes payments and supplier management. Its AI-driven platform optimizes payment timing and cash flow, enables payment monetization, and offers fraud prevention, analytics, and reporting. The infrastructure supports payment methods including ACH, virtual credit cards, and checks and is presented as a fully managed solution for AP. Finexio positions AP as a strategic revenue generator rather than a cost center. The company is backed by investors including JP Morgan and Mendon Venture Partners. It plans to use financing to support growth and working capital needs. Finexio provides end-to-end AP payment capabilities embedded within Accounts Payable and Procure-to-Pay (AP2P) software platforms. The company is led by Founder and CEO Ernest Rolfson. Finexio raised $35M in a Series B at a $100M pre-money valuation. The financing was intended to fund expansion of operations and broaden the company’s business reach. The company operates from Orlando, Florida and focuses on enabling AP payments-as-a-service for software platforms. Finexio is an Orlando, Fla.-based Accounts Payable (AP) Payments-as-a-Service infrastructure company powering many of the world’s largest accounts payable and procurement software platforms. The company provides white-label payment solutions and is deploying at scale across leading global procurement and AP platforms in sectors including hospitality, healthcare, higher education, manufacturing, and construction. Finexio reports a user base of 150,000 customers, $200 billion in annual B2B AP spend, and over 3 million suppliers. Its founder and CEO is Ernest Rolfson. In May 2022 Finexio closed a $10M funding round backed by Patriot Financial Partners and new investor Mendon Venture Partners. Banc of California invested in August to deepen its portfolio of product offerings, and the two companies intend to roll out an AP B2B payments and working capital offering by the second quarter of 2022. Finexio offers AP payments as a service, integrating end-to-end AP payment capabilities within AP and procurement software platforms. Led by CEO Ernest Rolfson and based in Orlando, Fla., the company focuses on enabling electronic payments and improving accounts payable workflows. It serves a customer base of 400 customers representing $4 billion in annual AP spend, and its integrated AP and procurement installed base spans over 150,000 bank accounts generating over $25 billion in accounts payable spend, much of which is still processed via paper check. Finexio plans to use new funding to expand development efforts and product capabilities. In partnership with Medalist, the company is launching an integrated Supply Chain Finance (SCF) solution designed to meet the needs of middle-market companies and improve cash flow for SMBs. Finexio provides an API used by accounts payable platforms, ERP systems, and corporations to identify suppliers that can be paid electronically and route payments without requiring bank account information. Its patent-pending technology enables customers to pay suppliers securely and quickly, eliminating paper-based checks. The company was launched in early 2017 by CEO Ernest Rolfson and is based in Orlando, Fla. Finexio completed a $4M Series A financing, bringing total funding since launch to $5M. The company will use the funds to continue to expand its sales and marketing efforts. In conjunction with the financing, payments executive Henry Dreifus will join Finexio’s Board of Directors and Steve MacDonald will join as an observer.

Participated · Seed · Mar 2022

Pronto Housing offers a software platform that automates compliance for U.S. affordable housing programs and streamlines operations for property teams. Its product set includes compliance certification, marketing administration, lottery management, digitization of past compliance files, and other compliance software tools. The company says its platform makes complicated affordable housing processes more efficient and accessible for residents. Founded in 2020, Pronto aims to accelerate its mission of revolutionizing affordable housing processes through its software solutions. The company secured $3.0M in funding in February 2024, bringing total funding to $9.5M. The new capital is intended to accelerate product and go-to-market efforts around affordable housing software. Pronto Housing builds tools to verify property compliance and to help prospective tenants navigate application regulations. The company frames those capabilities as a way to address landlords' hesitancy to work with housing assistance programs. The article describes the firm's work as a quest to make compliance easier. Pronto Housing recently drew a $2M round. No operating metrics, investors, or additional financial details are provided in the article. Pronto Housing is an off-the-shelf affordable housing compliance Software-as-a-Service platform that automates compliance for U.S. affordable housing programs. Founded in 2020 by Christine Wendell and KC Crosby, the platform provides a renter-facing step-by-step questionnaire and a dashboard for property managers to track deadlines, communications, and digital files. The product reduces manual data entry and increases transparency for asset managers and renters, expediting lease-up by over five times versus traditional compliance processes. Pronto serves early customers including Laramar and Lemor Development Group and targets the more than 11 million Americans facing housing instability. The company emphasizes tech-enabled solutions, an expert compliance team, and a customer-centric approach to make leasing and managing affordable housing faster and more transparent. It plans to use new capital to accelerate product development and market adoption.