Financial services providers Regions Financial and Jefferies have taken part in a $15m series B round for US-based financial markets analytics software developer DV01.
Pivot Investment Partners led the round, which included fellow investment firm Quantum Strategic Partners, as well as VC firms Illuminate Financial Management and OCA Ventures.
Founded in 2014, DV01 has developed a software platform that provides data management, reporting and analytics tools for lending markets such as consumer, small business, real estate, auto and student loans.
The company’s software leverages data from online lenders including LendingClub, Prosper and SoFi, to provide investors, lenders and banks with insights into market trends and portfolios.
DV01 has earmarked the series B capital for the expansion of its data library and the addition of new tools to its platform, including securitisation data and the integration of third-party data.
OCA Ventures had already led the company’s $5.5m series A round in September 2017, investing alongside online lender CreditEase’s Fintech Investment Fund, Illuminate Financial Management and Ribbit Capital.
Diversified holding company Leucadia National Corporation and Pivot Investment Partners also took part in the series A round, having backed DVO1’s $7.5m seed round together with Quantum Strategic the year before.
The company had collected $5m from Soros Fund Management and Jefferies Group three months prior to the seed funding.
Jamie Gregory, head of corporate financial strategy for Regions, said: “The platform has transformed our ability to analyse segments of our consumer unsecured loan portfolio and we see significant growth opportunities as they expand within the regional banking space.”