Participated · Series A · Feb 2021

Valon is a vertically integrated mortgage servicing platform that delivers an end-to-end modern servicing software for mortgage servicers and homeowners. The company says its platform drives superior operational efficiency and meaningful operating margin improvements for both Valon and its clients. Valon has grown 400% year-over-year and now services over $65 billion in mortgages, making it a top 15 U.S. subservicer. It has launched new consumer businesses in property insurance and property tax appeals and reports a refinance recapture rate consistently above the industry average. The company plans to use new funding to accelerate product development, double down on technology, expand market presence, and increase consumer cross-sell to potentially double or triple the total addressable market for mortgage servicers. Valon was founded in 2019 and is headquartered in New York City. Valon operates a tech-enabled residential mortgage servicing platform designed to give borrowers an intuitive, self-service interface supported by expert customer service. Its software automates servicing requirements such as disclosures, loss mitigation and payoff to increase borrower engagement and reduce costs. The company plans to use new funding to hire, build a loan originations and property insurance business, and pursue potential strategic acquisitions. Valon has secured approvals from government-sponsored enterprises (including Fannie Mae, Freddie Mac and FHA) to service federally backed loans and is the first fintech mortgage servicer approved by all GSEs. The company expects to service approximately 20,000+ consumers and $6 billion in mortgages by year end. Founded in 2019, Valon operates in 49 states and has grown its headcount to about 100 employees (two locations: New York and Tempe, AZ), with plans to expand to 200 by 2022. Valon operates a cloud-native, borrower-oriented mortgage servicing platform built on Google Cloud that offers self-service capabilities for homeowners and real-time API feeds for lenders. The company claims its vertically integrated technology can cut servicing costs by up to 50% and emphasizes security features like encryption and intrusion detection. Valon was founded in June 2019 by Andrew Wang, Eric Chiang and Jon Hsu and currently operates in 49 states, expecting to add New York this year. Management says the business went from no contracts to $10 billion in mortgages committed to be serviced within a year. The platform targets antiquated incumbents by replacing clumsy websites and call centers with a mobile-first, software-driven servicing experience. Valon plans to use new capital to triple headcount to about 100 and to acquire additional mortgage servicing rights (MSR) contracts.

Participated · Debt Financing · Dec 2019

Qwil offers workers access to payments earlier than invoice due dates by advancing pay and charging a flat fee for the advance. The company underwrites using alternative data such as payment information rather than relying on FICO scores. Qwil can send payments to 140 countries in all major currencies and has advanced over $150 million in pay through its platform. Nearly half of customers continue using the service consistently after their first transaction. Qwil charges a flat fee for advances that equates to a roughly 20% annualized rate. The company was launched in 2015 by co-founder and CEO Johnny Reinsch and technical co-founder Paul Tiplady. With the new funding, Qwil plans to make new hires and continue supporting more freelancers and small businesses.

Participated · Series B · Jan 2019

dv01 offers an end-to-end data management, reporting, and analytics platform that brings loan-level transparency to structured finance, covering consumer loans, auto, student loans, credit risk, and mortgages. The platform includes a market surveillance function and Tape Cracker, a data-wrangling tool, and dv01 also acts as a Loan Data Agent in securitizations to make individual loan data available to deal participants. Its dataset includes 75M+ loans and 600+ securitizations, representing $3.7T in lending activity. The company monetizes via bps on collateral balance paid out of deal waterfalls, bps on portfolio size, and annual contracts. Management says the business has remained resilient through the pandemic and is focused on achieving profitability while remaining capital efficient. Near-term plans include bringing two new offerings to market, rolling out new Tape Cracker features, expanding deeper into non-QM, student loans, and auto, and penetrating asset classes such as agency MBS while growing the team. Led by Founder and CEO Perry Rahbar, dv01 offers an end-to-end data management, reporting and analytics platform that provides loan-level transparency and insight into lending markets. The system has integrated data from 16 marketplace lending platforms and multiple mortgage servicers and serves over 250 institutional investors, originators, lenders and banks. In 2018 the company expanded to serve the US mortgage market, partnering with large residential mortgage investors and acting as Loan Data Agent for 10 mortgage securitizations. dv01 provides reporting and analytics on $105 billion of online lending and mortgage loans and $35 billion of securitization coverage, and will soon launch its Credit Risk Transfer Market Surveillance offering covering over $1.8 trillion of outstanding loans. The company intends to use the funds to expand its data library and invest in product innovation, including adding new SaaS offerings, securitization data and integrating third-party data. Dinkar Jetley of Pivot Investment Partners joined dv01’s board in conjunction with the funding. dv01 is a New York City–based data management, reporting and analytics platform focused on lending markets. Its core product offers data management, reporting and portfolio surveillance services to institutional investors. The company partners with Experian to augment analytics with cashflows, benchmarking and holistic borrower analysis. dv01 plans to use new funding to expand its data management, portfolio surveillance and securitization offerings into additional asset classes, including mortgages and auto. The firm has served over 150 financial institutions and provides insight into $10 billion of securitizations and more than $64 billion of online loans from originators such as Lending Club, Prosper, CommonBond, SoFi, Avant and Marlette. The company is led by founder and CEO Perry Rahbar. dv01 provides institutional investors with cloud-hosted portfolio management software that delivers real-time insight into $23.5 billion worth of marketplace loans. Its technology aggregates performance data from lenders including Lending Club, Prosper, Marlette Funding, and CommonBond and normalizes that data to simplify comparison and analysis. The platform enables investors to study individual loan performance and quickly detect issues within portfolios. dv01 has been using its recently raised capital to grow its engineering team, launch its portfolio management software, expand its securitization offering, and scale its solution. The company aims to expand into the broader $12 trillion consumer and mortgage lending markets. dv01 was founded in 2015 and is led by CEO Perry Rahbar in New York City. dv01 is an analytics platform founded by former mortgage-bond trader Perry Rahbar that analyzes consumer debt for professional investors. The company positions itself as a hub between marketplace lenders and the capital markets, transforming newly originated loans into transparent, scalable, and more liquid loan assets. dv01's product set covers the loan investment process—from due diligence to portfolio management, analytics, and investor reporting. The platform targets transparency and efficiency in the roughly $14 trillion consumer and mortgage lending markets, with particular focus on P2P lending. Financially, Soros Fund Management committed $2 million in 2015 and, according to Bloomberg, Soros and Jefferies Group LLC invested an additional $5 million via convertible notes. Key competitors named in the article include Orchard Platform and PeerIQ.