NEW YORK, June 29, 2016 — dv01, the analytics platform that brings transparency to lending markets, today announced the debut of its portfolio management software for marketplace loans. To date, institutional investors have used dv01’s cloud-hosted web application to gain real-time insight into $23.5 billion worth of marketplace loans.
Founded in 2015 by Perry Rahbar, dv01 has raised $7.5 million of seed funding from Quantum Strategic Partners Ltd., Leucadia National Corporation, and Pivot Investment Partners. The company has applied the funding toward expanding its engineering team and launching its portfolio management software. It will now focus on its securitization offering and scaling its solution to expand into the $12 trillion consumer and mortgage lending markets.
“Our mission is to bring a higher degree of transparency to lending markets,” said Perry Rahbar, CEO, dv01. “We take data out of archaic databases and transform it into something flexible and dynamic. As an impartial party, we deliver an unbiased view that benefits all market participants: borrowers, lenders, and investors.”
dv01’s current technology aggregates performance data from lenders including Lending Club, Prosper, Marlette Funding, and CommonBond. By normalizing data across lenders, dv01 simplifies comparison and analysis, enabling institutional investors to study individual loan performance and quickly detect issues within portfolios.
“dv01’s analytics platform brings needed transparency to a rapidly evolving market,” said Brian McGrath, Managing Director at Jefferies, a subsidiary of Leucadia National Corporation. “We look forward to using dv01’s offerings to inform future analysis and investment.”
“We’re excited to support a company that is building technology to modernize the capital markets,” said Dinkar Jetley, co-founder of Pivot Investment Partners. “dv01 offers a reporting and analytics platform that streamlines workflows for institutional investors, making analysis of loan level data faster and more accurate than previously possible.”
Rahbar founded dv01 to solve challenges he encountered during his decade-long career trading mortgage bonds at Bear Stearns and J.P. Morgan. The team bridges Wall Street and Silicon Valley, fusing an insider’s understanding of incumbent financial processes with an uncompromising focus on technology. dv01’s investors have decades of experience in private and public financial sectors and will play an active role in helping prioritize features and growing the customer pipeline.
dv01 brings transparency to lending markets. The analytics and reporting platform increases liquidity by simplifying all aspects of loan and bond investment, from portfolio management to securitization. To date, dv01 has provided investors real-time insight into more than $23 billion of loans from the biggest marketplace lenders, including Lending Club and Prosper. Headquartered in New York, dv01 is committed to expanding its modern technology infrastructure to bring efficiency and stability to the $12 trillion consumer and mortgage lending markets.
About Quantum Strategic Partners Ltd. (QSP)
Quantum Strategic Partners Ltd. is a private investment vehicle that seeks to acquire, and in partnership with experienced management teams, build businesses that generate attractive returns on investment. The investment advisor to QSP is Soros Fund Management LLC, a private investment management firm that serves as the principal investment advisor to a number of private investment funds that are managed exclusively for Soros family clients.
About Leucadia National Corporation
Leucadia National Corporation is a diversified holding company engaged through its consolidated subsidiaries in a variety of businesses, including investment banking and capital markets, beef processing, manufacturing, oil and gas exploration and production and asset management. The Company also owns equity interests in businesses that are accounted for under the equity method of accounting, including a diversified holding company, real estate, commercial mortgage banking and servicing, telecommunication services in Italy, automobile dealerships and development of a gold and silver mining project.
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 and FinTech companies, investing operating expertise and capital in their success and accelerated growth. More information is available at www.pivotinvestment.com.
Patrick Flanary, for dv01