Data analytics platform Dvo1 has closed its Series A funding round on $5.5m, which was led by OCA Ventures.
Other participants to the round were Ribbit Capital, Illuminate Financial, Creditease, Leucadia National Corporation and Pivot Investment Partners.
New York-headquartered Dvo1 offers the lending markets an analytics and reporting platform which increases liquidity by simplifying aspects of loan and bond investment, from portfolio management to securitisation.
Dvo1 has been used by more than 150 financial institutions, offering insight into $10bn securitisations and over $64bn online loans from lenders including Lending Club, Prosper, CommonBond, SoFi, and Marlette. Since June 2016, the company has seen a 35-times increase in users.
The company is looking to implement enhanced analytics solutions, with a built-in cashflow engine, benchmarking, and holistic borrower analysis through its Experian partnership. Dvo1 is also set to expand across new asset classes, including mortgages and autos.
With the new injection of equity, total funding raised by Dvo1 has reached $15.5m. The company received $7.5m in a seed funding round led by Quantum Strategic Partners, Leucadia National Corporation, and Pivot Investment Partners, last year.
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