Capital markets fintech dv01 acquires Pragmic Technologies

New York-based capital markets fintech dv01 Inc. acquired Pragmic Technologies Inc., an early-stage company that works on data infrastructure in the agency mortgage-backed securities market.

Financial terms of the deal were not disclosed.

Pragmic Technologies CEO and co-founder Charlie Oshman and Memo Sanchez, both also co-founders of commercial real estate data analytics company Reonomy, will join dv01 to support the company in its efforts in agency MBS and environmental, social and governance initiatives.

As a result of the deal, dv01 will develop a data infrastructure to "resolve the traditionally slow and opaque reporting processes within the agency MBS sector," according to a news release.

The acquisition follows the closing of dv01's $6 million series B3 financing round led by Pivot Investment Partners and joined by AGNC Ventures LLC. The new funding brings dv01's total financing to date to $34 million, with past investors including Quantum Strategic Partners Ltd., Jefferies Financial Group Inc., OCA Ventures, Illuminate Financial Management, Ribbit Capital and Regions Financial Corp.