Canopy Servicing

Canopy Servicing offers a robust platform designed to build and scale multiple business loan products on a single system. The company has raised $15.2 million to fuel its growth plans in 2024. Central to its offering is Canopy Core, a loan management system that allows for customization of policies, interest rates, payment plans, billing cycles, and fees per customer. The platform automates instant, tailored communications for payment reminders, promotions, and fee waivers, while tracking every change to the ledger and providing real-time calculations. Canopy Connect enables the design of custom workflows to automate loan tasks, and DataDirect generates ready-made reports for upsell or cross-sell strategies. LoanLab simulates the entire lifecycle of a loan, testing different policies and actions, and Preview allows users to see the downstream effects of actions before making changes. SafeGuard ensures accurate calculations aligned with business lending scenarios and edge cases. Canopy supports integrations with various partners including Checkout.com, Dwolla, Modern Treasury, Stripe, Galileo, Intercom, Square, and Tableau. The platform provides use cases for working capital, line of credit, cash advances, installment loans, and buy now pay later options. Canopy OS serves as a central hub for viewing, managing, and fine-tuning customer loan accounts. The API-first platform allows for embedding financial products and servicing borrowers securely and compliantly. Canopy’s lending core is fully immutable, transparent, and modern, supporting various lending products and flexible policy capabilities. The system offers real-time data access to help programs make better decisions and increase cash flow for borrowers, maintaining an immutable ledger for secure tracking and auditing of account activities. Canopy’s platform includes features for automating notifications and triggers for various lending tasks and integrates with a host of money movement technologies for payment orchestration. DataDirect connects to every tool across the lending ecosystem for a comprehensive record of all account events, while LoanLab allows for testing and validating new product configurations and policies. SafeGuard ensures compliance with auditors and regulators by capturing thousands of computed values in each test. Canopy supports various lending products including merchant cash advances, installment loans, and buy now pay later options.