New York City-based dv01, a hub between lenders and capital markets, has raised $15 million in Series B funding. Pivot Investment Partners led the round with participation from other investors that included Regions Financial Corp, Quantum Strategic Partners Ltd, Jefferies Financial Group Inc, Illuminate Financial Management and OCA Ventures.
New York, Jan 30. 2019 – dv01, the world’s first end-to-end data management, reporting and analytics platform offering loan level transparency and insight into lending markets, has raised $15 million in Series B funding, led by Pivot Investment Partners. Other participants include a new strategic investor, Regions Financial Corp., as well as existing investors, including Quantum Strategic Partners Ltd., Jefferies Financial Group Inc., Illuminate Financial Management and OCA Ventures. Proceeds from the financing 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.
“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,” said Perry Rahbar, Founder and CEO of dv01.
dv01 has experienced rapid growth in response to strong demand for best-in-class analytics and insights into the US consumer and mortgage loan markets. Over 250 institutional investors, originators, lenders and banks use the platform to gain a deeper understanding of their portfolios and the broader US 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.
“dv01’s distinctive platform provides much-needed analytic insights and transparency to consumer loan assets” said Dinkar Jetley at Pivot Investment Partners, “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.”
Jamie Gregory, Head of Corporate Financial Strategy at Regions said, “We are excited about furthering our relationship with dv01 through this investment. The platform has transformed our ability to analyze segments of our consumer unsecured loan portfolio and we see significant growth opportunities as they expand within the regional banking space.”
dv01 welcomes Dinkar Jetley of Pivot Investment Partners to its board. The Series B financing follows a $5.5 million Series A round led by OCA Ventures, which closed in September 2017.
dv01 is the world’s first end-to-end data management, reporting and analytics platform offering loan level transparency and insight into lending markets. dv01 has integrated data from 16 marketplace lending platforms and multiple mortgage servicers. To date, dv01 has provided reporting and analytics on $105 billion of online lending and mortgage loans and $35 billion of securitization coverage. With a focus on data management and transparency, dv01 has expanded into mortgages as well. Learn more at dv01.co
About Pivot Investment Partners
Pivot Investment Partners LLC is a team of CEO-level operating executives who have grown and transformed financial services businesses around the world. The firm works closely with a select set of high-potential financial services, FinTech, and InsurTech companies, investing operating expertise and capital in their success and accelerated growth. For more information, please visit www.pivotinvestment.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $126 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,500 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.