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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.
Fremont, CA: dv01, the leading capital markets fintech driving technological innovation and loan-level transparency in structured finance, announced that it has acquired Pragmic Technologies, an early-stage company 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 its efforts in agency MBS ESG.
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 securitizations 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 a new strategic investor, AGNC Ventures, an affiliate of AGNC Investment Corp., 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, Jefferies Financial Group, OCA Ventures, Illuminate Financial Management, Ribbit Capital, and Regions Financial.
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