Canopy Servicing

Canopy Servicing

API-driven loan management and servicing

Overview

Canopy Servicing provides a flexible API platform for loan management and servicing that lets financial institutions and individual lenders manage credit, debit, and installment loans in one system. It calculates interest in real-time as payments are made, supports per-product and per-customer settings for interest rates, billing cycles, promotions, and fees, and offers features like payment reminders and retroactive processing of disputed payments. The platform emphasizes data privacy and security with encryption in transit and at rest and strict access controls, and it eliminates batch processing in favor of granular, per-loan configuration through an API-first approach. The goal is to help clients efficiently offer modern lending products at scale while maintaining strong data protection.

About Canopy Servicing

Simplify's Rating
Why Canopy Servicing is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Differentiation

Industries

Enterprise Software

Fintech

Financial Services

Company Size

11-50

Company Stage

Series A

Total Funding

$33.7M

Headquarters

Claymont, Delaware

Founded

2019

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Simplify's Take

What believers are saying

  • Embedded credit market projected to reach $7 trillion by 2026, expanding addressable market significantly.
  • Visa Ready for BNPL and Lendflow partnerships accelerate go-to-market for enterprise fintech clients.
  • 2.5x to 3x ARR growth trajectory positions Canopy for scale across credit, debit, installment loans.

What critics are saying

  • CFPB Section 1033 enforcement mandates open banking data portability, forcing client data migration off platforms.
  • Sivo's debt-as-a-service automates 80% of configurable loan policies at half Canopy's pricing.
  • LendingClub's integrated origination-servicing platform undercuts Canopy by 20% on cost to seed fintechs.

What makes Canopy Servicing unique

  • Highly configurable API platform enables clients to customize loan products without batch processing constraints.
  • 80%+ gross margins and 150%+ NRR demonstrate strong unit economics and customer retention.
  • Data security by design with encryption in transit/at rest and segregated client data access controls.

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Funding

Total Funding

$33.7M

Meets

Industry Average

Funded Over

3 Rounds

Notable Investors:
Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Meet Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$15.2M
Canopy Servicing
$30M
Kalshi

Benefits

Health Insurance

Vision Insurance

Dental Insurance

Parental Leave

401(k) Company Match

Company Equity

Unlimited Paid Time Off

Remote Work Options

Home Office Stipend

Company Social Events

Growth & Insights and Company News

Headcount

6 month growth

-3%

1 year growth

0%

2 year growth

-3%
ExploreBit
Oct 13th, 2023
Canopy Servicing Raises USD 15.2M Series A1 Funding

Canopy Servicing raises USD 15.2M Series A1 funding.

TechCrunch
Oct 10th, 2023
Canopy Servicing's $15.2M Series A1 shows fintech startups that raised in 2021 can still get money | TechCrunch

We were curious how Canopy was able to raise another tranche of capital in this climate, so we caught up with its CEO, Matt Bivons, to find out how things are going.

Today in Business
Mar 23rd, 2023
Canopy Wins Best Lending Infrastructure Platform Award | Today in Business

Canopy has won the Best Lending Infrastructure Platform Award in the FinTech Breakthrough’s Business Lending category.

PYMNTS
Dec 7th, 2022
Mastercard Expands Digital Services Through Engage Partner Network

Mastercard has added seven technology providers to its Engage partner network. . Through the Engage network — which already included 150 partners — Mastercard connects businesses with qualified FinTechs and service providers that can deploy digital solutions at scale while leveraging the Mastercard Installments program, Mastercard said in a Wednesday (Dec. 7) press release. . The latest providers to join the Engage partner network are Amount, Canopy, Galileo, Jifiti, LiftForward, Paywallet and Peach Finance.

Business Wire
Oct 11th, 2022
Canopy Servicing Announces Partnership With Lendflow To Power Best-In-Class Lending Infrastructure And Embedded Credit Solutions

SAN FRANCISCO--(BUSINESS WIRE)--Canopy Servicing, the most configurable platform for loan management and servicing, today announced a partnership with Lendflow, the most powerful embedded credit platform and credit decisioning engine, to empower enterprise Fintechs, banks, credit unions, and non-traditional lenders to offer next-generation credit and lending products with best-in-class speed to market and execution. Embedded credit products are expected to surge to more than $7 trillion in total value by 2026, according to Bain & Company. To quote Bain: “Platforms are partnering across the new value chain to deliver these benefits to customers and differentiate their core services. In turn, this increases their ability to spur sales in their core business. For example, embedding payments into the native invoicing workflow improves accounting or business management software for the merchant, significantly reducing time spent reconciling payments and invoices. Embedding financial services helps platforms drive superior economics, increasing customer lifetime value. With minimal incremental customer acquisition costs, platforms can raise average revenues per user, while keeping customers longer.”1

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