NEW YORK — dv01, a data management company for institutional investors, has closed a $5.5 million Series A round, led by OCA Ventures. Ribbit Capital, Illuminate Financial, and CreditEase Fintech Investment Fund also participated in the round, joining existing dv01 investors Leucadia National Corporation and Pivot Investment Partners.
“As a hub between lenders and capital markets, dv01’s platform has seen incredible growth and adoption, including a 35x increase in users since June 2016 driven in large part by our securitization offering,” said Perry Rahbar, founder and CEO of dv01. “The support of OCA, Ribbit, Illuminate, and our other investors allows us to continue streamlining all facets of lending and investing for capital markets, bringing much needed transparency and efficiency to all asset classes.”
“Institutional investors in the online lending space demand enhanced data transparency, synchronization, and standardization, all of which are central to dv01’s mission and value proposition,” said Jim Dugan, Managing Partner at OCA Ventures, an early stage venture capital firm with investments in TradeKing, SumRidge, Solovis, and SpotHero. “dv01’s data analytics and securitization platform is custom-built for these challenges, and we are excited to partner with Perry and his team to capitalize on this significant market opportunity.”
To date, dv01 has provided data management, reporting, and portfolio surveillance services to over 150 financial institutions, offering investors insight into $10 billion of securitizations and more than $64 billion of online loans from originators including Lending Club, Prosper, CommonBond, SoFi, Avant, and Marlette. dv01 plans to apply this round of funding toward enhancing its analytics solutions—adding cashflows, benchmarking, and holistic borrower analysis through its partnership with Experian. It will also expand its data management, portfolio surveillance, and securitization offering into additional asset classes, including mortgages and auto.
“Our goal is to build one end-to-end solution that addresses all market needs for all market participants—including originators, institutional investors, and banks,” said Rahbar.