doValue

What doValue does

doValue S.p.A. (formerly doBank) is a leading independent credit and real estate servicer in Southern Europe, publicly listed on Euronext Milan (ticker DV) in the STAR segment and headquartered in Milan, with operating hubs across Italy, Spain, Greece, Portugal, and Cyprus. Founded in 2015, the company manages €136 billion in Gross Book Value across non-performing loan (NPL), unlikely-to-pay (UTP), and early arrears portfolios, as well as real estate assets, on behalf of approximately 70 clients including banks, alternative investment funds, securitization vehicles, and government entities. doValue holds the highest servicer ratings from S&P ("Strong") and Fitch (RSS1-/CSS1-), positioning it as a top-tier operator for institutional mandates.

The company operates an integrated technology ecosystem comprising three proprietary platforms: MyRecovery (credit servicing and borrower management), MyProperty (real estate asset management), and MyAltamira (real estate servicing inherited from the 2019 Altamira acquisition). The platform is supported by a €45 million technology investment plan covering 2022-2024 and includes capabilities in data analytics, predictive modeling, and process automation applied across the recovery lifecycle, from borrower treatment to collateral disposal. Adjacent product lines include Yard Reael (real estate development) and minority stakes in QueroQuitar (digital debt cancellation) and BidX1 (digital real estate auctions), extending the firm's reach into digital distribution of borrower and asset solutions.

doValue's business model is fee-based and recurring, with revenue derived primarily from long-term servicing contracts priced as a percentage of assets under management or on a per-file basis. Reported gross revenues of €580 million and EBITDA of €217 million for FY2025 imply strong unit economics consistent with scale-driven servicing. With approximately 3,000 employees and operations in five countries, doValue is the largest credit and real estate servicer in Southern Europe by managed GBV, with leadership positions in Italy, Spain, and Greece.

Name

doValue

Legal name

doValue Spain Servicing, S.A.

Website

https://dovalue.es

Company type

Public

Founded year

2015

Operating status

Operating

Short description

doValue is a leading independent credit and real estate servicer in Southern Europe, managing €136 billion in non-performing loans and real estate assets for banks, investors, and government entities across Italy, Spain, Greece, Portugal, and Cyprus.

Ownership category

akta.pro rank

Product category

Credit and Real Estate Servicing

NAICS

Offices of Real Estate Agents and Brokers (5312), Portfolio Management and Investment Advice (52394), Repossession Services (561491), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Mortgage Bankers & Loan Correspondents (6162), Real Estate Agents & Managers (For Others) (6531), Services-Prepackaged Software (7372)

akta.pro primary industry

Loan Servicing & Special Servicing (Delinquency Management) (FSAKAJAG)

akta.pro secondary industry

Foreclosure/REO & Distressed Property Auctions (BPAJAEAF)

Keywords

• NPL portfolio servicing
• Credit recovery management
• Real estate asset management
• REO commercialization services
• Loan servicing solutions

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Portfolio Management Services: Fee-based servicing through long-term contracts with banks and investment funds for management of NPL, UTP, early arrears and performing loans portfolios. Revenue generated through ongoing management fees.
2. Real Estate Services: Services for management and commercialisation of real estate assets (REOs), including property transformation, sale and lease management. Revenue from real estate asset management and transaction facilitation.
3. Legal Services: 360-degree legal services for businesses including legal backoffice, documentation preparation, legal due diligence, powers of attorney, procedural and insolvency management.
4. Master Servicing Activities: Ancillary services including master legal services, due diligence services, data management services and master servicing activities.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels9 records

Core offering

doValue is a servicer that manages credit portfolios (non-performing loans, unlikely-to-pay, early arrears, and performing loans) and real estate owned (REO) assets on behalf of banks, investment funds and other financial clients. The Group delivers integrated services spanning portfolio advisory and acquisition due diligence, loan recovery, real estate asset transformation, development (Ádsolum), and commercialization (Altamira Inmuebles), supported by three interconnected proprietary technology platforms — MyRecovery, MyProperty and MyAltamira — covering the full asset lifecycle.

Product overview

doValue is a leading servicer in Southern Europe operating a platform-based architecture with three interconnected technology platforms: MyRecovery (credit management), MyProperty (property lifecycle management), and MyAltamira (real estate commercialization). The company offers integrated financial asset management services including portfolio advisory, credit recovery, real estate asset management, development, and commercialization. doValue Group consists of doValue, doNext, doData and Altamira Asset Management, managing approximately €136 billion in assets across Italy, Spain, Greece, Portugal, and Cyprus. The rebranded Altamira brand handles real estate servicing while Ádsolum focuses on real estate development and Singularity markets new constructions.

Differentiator

Problem solved

Functional benefit

Brands

• MyRecovery: Credit management platform that increases credit recovery ratios with flexible, scalable and efficient integration with client systems
• MyProperty
• MyAltamira
• Altamira Inmuebles
• doNext
• doData

Products and services

• Portfolio Management and Counselling (Asesoramiento y gestión de carteras)

Quantifiable outcome

• Assets under management of €136 billion (GBV)
• +8 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core.

• Conrado CaviróOthers · 1 March 2022Chief Investors Officer joining Altamira doValue Executive Committee in March 2022 to head the new Investor business unit. Previously at Hipogés and partner at Interpares law firm. Heads multidisciplinary team of ~150 professionals.
• Andrea MangoniOthers · 1 October 2021CEO of doValue who assumed chairmanship of Altamira doValue Group on October 1, 2021, replacing Julián Navarro. Andrea Mangoni's appointment reflects doValue's major commitment to Spain and Altamira's position as the leading servicer on the Spanish market.
• Francesc NogueraOthersCEO of Altamira doValue since March 2021 (designated February 2021), leading the company's transformation strategy focused on innovation and growth.
• Ádsolum Real EstatecoreStrategic or Co-development PartnerSpin-off from Altamira doValue (December 2021) operating autonomously, offering national and international investors specialised value proposition for end-to-end real estate development and promotion (build-to-rent, build-to-sell, alternatives).
• SingularitycoreStrategic or Co-development PartnerGroup's new-build marketing brand within the Altamira perimeter, specialised in marketing of newly-constructed properties.
• Altamira Asset ManagementOthersdoValue acquired 85% stake in Altamira Asset Management in June 2019. Altamira operates as a brand specialised in real estate servicing within doValue Group. Operations in Spain, Portugal, Cyprus and Greece.
• doNextOthersSubsidiary company within doValue Group, part of the Group composition alongside doValue, doData, and Altamira Asset Management.
• doDataOthersSubsidiary company within doValue Group, part of the Group composition alongside doValue, doNext, and Altamira Asset Management.
• FPS (now doValue Greece)OthersGreek servicing company acquired by doValue - 80% of share capital acquired from Eurobank SA (today doValue Greece) in 2020.

Scale indicators13 records

Recent moves15 records

Expansion highlights5 records

Direct peers

• PRA Group: Global financial services company focused on non-performing loans, purchasing and servicing portfolios across Europe. Comparable to doValue on NPL portfolio acquisition advisory and ongoing servicing of bank and investor portfolios.
• EOS Group: European debt servicing and collections specialist operating in many countries including Spain. Compares directly to doValue on NPL servicing mandates, recovery operations, and B2B bank-client model.
• Lowell Group: European credit management group operating in the UK and other European markets. Comparable as a specialist servicer of consumer and SME NPL portfolios on behalf of banks and credit purchasers.
• Hoist Finance: European credit management and NPL servicing specialist with operations across Southern and Western Europe. Comparable to doValue as a focused debt purchasing and servicing platform targeting bank and investor clients.
• Hipogés: Spanish NPL/REO servicer with significant Iberian market presence, directly comparable to doValue's Altamira brand. Both compete for the same bank-servicing and REO commercialization mandates in Spain.
• Intrum: Pan-European leader in credit management and NPL servicing, operating across multiple countries including Italy and Spain. Directly comparable to doValue on NPL/UTP servicing mandates, special servicing credentials, and bank/investor client base.
• Banca Ifis: Italian bank specializing in NPL servicing, factoring, and leasing with significant exposure to the Italian non-performing loan market. Directly comparable to doValue on Italian NPL servicing scale and bank-to-servicer relationships.
• Arrow Global (TPG): European credit management and NPL servicing platform owned by TPG, with operations across multiple Southern European markets. Comparable to doValue on cross-border NPL portfolio servicing for banks and institutional investors.

Regional players

• Solvia (Sabadell): Spanish real estate servicer and asset manager owned by Banco Sabadell, active in REO management and property commercialization. Comparable to doValue's Altamira brand for Iberian REO servicing and real estate sales.

Broad incumbents

• Sareb: Spain's 'bad bank' (asset management company) holding large real estate and NPL portfolios. Comparable to doValue in the Spanish REO/NPL space as a major holder and outsourcer of distressed asset servicing work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/dovalue

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about doValue