Fintech analytics firm lands $5.5m fundraise

By Ryan Weeks on Wednesday 13 September 2017

Alternative Lending

Dv01 becomes the latest online lending-focused analytics firm to raise money.

The push for greater transparency in online lending continues. Dv01, a US analytics firm, has closed a $5.5m Series A funding round. OCA Ventures took the lead, with Ribbit Capital, Illuminate Financial and Chinese fintech giant CreditEase also participating, alongside existing investors Leucadia National Corporation and Pivot Investment Partners.

The money will be used to enhance its analytics solutions. Specifically, the company will introducing cashflows, benchmarking and what it calls “holistic borrower analysis” – which will be delivered in partnership with Experian.

Dv01 has also flagged its intention to expand beyond online lending into new asset classes, including mortgages and auto.

Two rivals to dv01 closed fundraises in August. US-based PeerIQ scooped a $12m Series A, co-led by TransUnion, Hearst's Financial Venture Fund and Macquarie Group, alongside existing investors Uprising and former Morgan Stanley CEO John Mack. UK-based AltFi Data raised an undisclosed amount from a handful of angel investors.

Dv01 claims to provide data management, reporting and portfolio management services to over 150 financial institutions. Its insights cover $10bn of securitisations and more than $64bn of online loans, from originators including Lending Club, Prosper (the company worked as the data agent on Prosper's $5bn loan purchasing deal in February), SoFi, CommonBond and Marlette. The firm also signed a reporting partnership with Renaud Laplanche’s new platform Upgrade in July.

Dv01 says that it has seen its users grow by a multiple of 35 since June 2016, driven by securitisation demand.

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