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dv01, a company that provides data analytics and pricing tools for the lending markets, announced Tuesday its acquisition of Pragmic Technologies, a provider of data for agency mortgage-backed securities.
The purchase will allow dv01 to expand into the nearly $9 trillion market for agency mortgage bonds. Data didn t really become a priority until post-crisis for this market, dv01 founder and CEO Perry Rahbar told Insider.
dv01 also announced the closing of a $6 million B3 financing round, with a new investment from one of the largest agency mortgage REITs in the country, AGNC Investment Corp.
Lending Data Fintech dv01 Acquires Pragmic Technologies, Closes $6 Million Series B
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,
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 prop