dv01, a platform that connects online lenders and investors with data management, announced on Wednesday it secured $15 million through its Series B funding round, which was led by Pivot Investment Partners with participation from Regions Financial Corp., as well as existing investors, including Quantum Strategic Partners Ltd., Jefferies Financial Group Inc., Illuminate Financial Management and OCA Ventures.
dv01 also revealed it has experienced rapid growth in response to strong demand for analytics and insights into the U.S. consumer and mortgage loan markets. The platform reported that more than 250 institutional investors, originators, lenders, and banks use the platform to gain a deeper understanding of their portfolios and the broader U.S. lending markets.
“In 2018, dv01 expanded its offerings to serve the US mortgage market, partnering with some of the largest residential mortgage investors and acting as Loan Data Agent for 10 mortgage securitizations. dv01 will soon launch its Credit Risk Transfer Market Surveillance offering, providing investors insight for the first time into over $1.8 trillion of outstanding loans.”
Speaking about the investment round, Perry Rahbar, Founder and CEO of dv01, stated:
“The success of this Series B is proof of the strong demand for a holistic end-to-end solution that solves the entire workflow within lending and the structured products markets. With the support of our investors, and our growing team, we’re excited to develop our platform further, providing new and enhanced tools that are bringing much needed transparency and insight into every loan facing a consumer today.”
Dinkar Jetley at Pivot Investment Partners added:
“dv01’s distinctive platform provides much-needed analytic insights and transparency to consumer loan assets. We have been tracking the company closely for the past couple of years and are proud to be leading this growth capital round alongside a distinguished group of investors. We see substantial opportunity for dv01 to continue to innovate for the benefit of all participants in the lending markets.”
Funds from the Series B funding round will be used to expand dv01’s data library and invest in product innovation, including adding new SaaS offerings, securitization data and integrating third-party data, as dv01 continues to grow its customer base across lending markets, including in mortgages.