dv01, the data management, reporting, and analytics platform that offers institutional investors transparency and insight into lending markets, today announced a $5.5M 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."
OCA advisor Jack Lavin has joined dv01's board, and will work alongside existing board members from Jefferies LLC, a subsidiary of Leucadia National Corporation, and Quantum Strategic Partners Ltd., a private investment vehicle managed by Soros Fund Management LLC.
"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.
"dv01 has proven that its innovative solutions save time and money for all capital market participants," added Nikolay Kostov, partner at Ribbit Capital, a venture capital firm focused on financial technology, whose portfolio includes Credit Karma, Robinhood, and Wealthfront. "We're excited to work with the team as they expand their product offering and bring much needed efficiency to investor-facing tools throughout the financial industry."
dv01 is a data management, reporting, and analytics platform that acts as a hub between lenders and capital markets. To date, dv01 has offered investors insight into $10 billion of securitizations and more than $64 billion of consumer, small business, real estate, auto, and student loans (>90% of total) from the largest online lenders, including Lending Club, Prosper, and SoFi. Learn more at dv01.co.
About OCA Ventures
OCA Ventures is an early stage (Seed, Series A, and Series B) venture capital firm focused on equity investments in companies with dramatic growth potential, primarily in technology and highly-scalable services businesses. OCA invests in many industries, with a preference for technology, financial services, cyber security and healthcare technology. Founded in 1999, the firm is investing out of its fourth fund in companies spread throughout the United States. Learn more at http://www.ocaventures.com/.