Canopy has raised more than $2 million from West Hill Capital, bringing its total seed capital to more than $10 million. The funding will be used to accelerate partnerships with letting agents and expand the portfolio of financial products.
Amidst the COVID-19 pandemic, Canopy says it exceeded its funding goal and was oversubscribed within 48 hours of opening an investment round led by West Hill Capital. Canopy intends to use the latest funding to strengthen its sales team, invest in new technologies and the rich data resources available through Open Banking to establish its tenant screening product.
Over time, the company says it plans to launch highly personalized tenant finance products and expand into a broader range of related services – built to serve tenants’ financial needs.