dv01 has acquired Pragmic Technologies, according to a note from the company. The acquisition follows a $6 million series B3 financing round led by Pivot Investment Partners and joined by new strategic investor, AGNC Ventures, LLC, an affiliate of AGNC Investment Corp. (Nasdaq: AGNC), a residential mortgage REIT with over $97 billion in assets. dv01’s total financing to date stands at $34 million, with past investors including Quantum Strategic Partners Ltd., Jefferies Financial Group Inc., OCA Ventures, Illuminate Financial Management, Ribbit Capital, and Regions Financial Corp.
dvo1 explains that Pragmic’s algorithms will provide investors with intra-month performance insights on agency MBS (mortgage backed securities), helping investors better optimize their portfolio management and hedging processes in a market that trades $65 trillion a year. dv01 will also be able to combine its understanding of loan-level data within securitizations with proprietary analytics to provide ESG ratings for structured products.
dv01 is a top Fintech providing deep data on the online lending sector. Pragmic Technologies is an early-stage company that is “reimagining” data infrastructure of the agency MBS market.
Charlie Oshman and Memo Sanchez, Pragmic Technologies’ founders and co-founders of commercial real estate data analytics company Reonomy, will join dv01.
“Unlocking real-time performance data in agency MBS will be a massive paradigm shift for a market that trades $65 trillion a year,” said dv01 Founder and CEO Perry Rahbar. “With this acquisition, we are at the forefront of building a proprietary data infrastructure that will significantly enhance our offerings across all structured products, in addition to agency MBS.”
dvo1 notes that the market for data-driven ESG investments has surpassed $40 trillion. With the addition of Pragmic Technologies, dv01 will be in a better position to combine its understanding of loan-level data within securitizations, with external data sources and proprietary analytics to work with partners to provide the first true ESG ratings for structured products.
Oshman called dv01 the ideal partner to “revolutionize the agency market.”
“With our combined resources, we will provide unmatched market transparency and quickly develop a dominant agency MBS business line to complement dv01’s non-QM, consumer unsecured and student loan coverage.”