NEW YORK – 1/12/2021 – dv01, the leading capital markets fintech driving technological innovation and loan-level transparency in structured finance, today announced that it has acquired Pragmic Technologies, an early-stage company that is reimagining the data infrastructure of the agency MBS market. Pragmic Technologies’ Charlie Oshman and Memo Sanchez, co-founders of commercial real estate data analytics company Reonomy, will join dv01 to help expand the company’s efforts in agency MBS and ESG.
With the Pragmic Technologies acquisition, dv01 will develop a novel data infrastructure that resolves the traditionally slow and opaque reporting processes within the agency MBS sector. Previously, agency MBS performance was reported on a monthly data update cycle, but now with its expanded capabilities, dv01 will be the first to provide investors with granular, intra-month performance insights, helping investors optimize their portfolio management and hedging processes.
“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.”
As the market for data-driven ESG investments surpassed $40 trillion in 2020, little progress has been made developing ESG standards for structured products, the largest credit markets in the world. With the addition of Pragmic Technologies, dv01 will be in a unique position to combine its understanding of loan-level data within securitization, with external data sources and proprietary analytics to work with partners to provide the first true ESG ratings for structured products.
“dv01’s market-leading client base, expertise, and infrastructure makes them the ideal partner to revolutionize the agency market,” said Charlie Oshman, CEO and Co-Founder of Pragmic Technologies. “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.”
To support this growth and technological advancements, dv01 has also successfully closed 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 leading residential mortgage REIT with over $97 billion in assets. This brings dv01’s total financing to date to $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.
“We are extremely excited about the opportunities this technology can unlock for the agency MBS market, as dv01 continues to lead the industry forward,” said Donald Holley, Managing Director of AGNC Ventures. “We look forward to fostering dv01’s innovative mindset to deliver new levels of data granularity and transparency that empower strategic investment decision-making and drive improved returns.”
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NOTES TO EDITORS
Founded in 2014, dv01 is the world’s first end-to-end data management, reporting, and analytics platform offering loan-level transparency and actionable insights into lending markets. To date, dv01 has provided securitizations reporting and analytics on $3.4 trillion in notional, consisting of 54 million loans and 590 securitizations across consumer unsecured, point of sales, small business, student loans, and both agency and non-agency MBS.
About Charlie Oshman and Memo Sanchez
Since 2013, Charlie Oshman and Memo Sanchez have collaborated together to solve the capital markets’ fragmented data problem. The duo’s partnership began when they founded Reonomy, a proprietary data analytics solution for commercial real estate, one of the largest asset classes in the U.S. without required performance reporting. Serving thousands of clients, Reonomy is now the leading CRE property intelligence platform. At Pragmic Technologies—and now dv01—Charlie and Memo will leverage their experience building proprietary technology to bring structured finance into a new data age.