09:06 AM EDT, 06/18/2025 (MT Newswires) -- Pagaya Technologies ( PGY ) said Wednesday it closed a $600 million AAA-rated asset-backed securitization to fund personal loans that originated from its proprietary network.

The technology company said the deal was oversubscribed and upsized, with participation from 23 investors.

Pagaya ( PGY ) said the deal follows its recent $300 million RPM deal and inaugural AAA-rated POSH securitization, bringing total asset-backed securitization funding to over $2.3 billion in Q2, which represents the company's largest quarterly total.