Canopy and Sivo Announce Pioneering Integrated Lending Partnership | News


Canopy Servicing, the leading modern loan servicing and servicing platform, and Sivo, the leading debt-as-a-service provider, are combining capabilities to enable fintechs, neobanks and brands to lend to users – launching , financing, loan management and servicing, all at scale. Together, Canopy Servicing and Sivo have already demonstrated exceptional product market fit, with debt demand of $6 billion, disbursements of $2 billion, and an annual increase of more than 1,000% in loans. Through this partnership, companies looking to build innovative lending tools through Canopy’s platform will also have access to Sivo’s API for programmatic debt financing.

Historically, the process of finding debt financing has been very difficult for companies of all sizes, as they have had to negotiate complex agreements involving high legal fees, high set-up costs and dilutive mandates. With Sivo and Canopy, companies can programmatically access debt financing and disburse funds to their borrowers with simplified due diligence that can unlock up to 10x the leverage to bring products to market and scale them in a record time.

“Canopy and Sivo are breaking new ground by offering on-demand configurable debt,” said Matt Bivons, CEO of Canopy. “Originators can apply for a line of credit that matches their specific business goals and, in turn, offer personalized, transparent and more secure credit and lending products to their users. The partnership between Canopy and Sivo aims to help our customers get to market faster, with less risk overall, and with greater transparency.

Businesses can configure unique credit products, launch them on Canopy’s loan management and servicing platform, and partner with Sivo’s seasoned credit and risk experts to securely manage fast-growing programs. Canopy’s platform also calculates interest and fees in real time, enabling real-time due diligence on Sivo’s platform. The transparency offered by Canopy and Sivo’s combined technology-driven approach allows Sivo to expand its leverage as lending programs reach key metrics and grow with their users.

“We are opening up an opportunity for businesses to bring the next generation of credit and lending products to market,” said Kate Hiscox, co-founder and CEO of Sivo. “Traditional credit facilities can be slow, expensive, dilutive and inflexible. With Canopy and Sivo, financial innovators have access to debt capital with a clear path to 10x leverage in days and can bring products to market in weeks. Our partnership with Canopy is natural, as we are both committed to supporting our customers with the modern technology and expert services they need to ensure new financial products are compliant, profitable and valuable.

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About the awning

Canopy’s modern loan management and servicing platform helps Fintechs and banks manage client accounts with automations and APIs to help improve borrower repayment rates, increase net promoter scores and lower service costs for loan and credit card products.

About Sivo

Sivo is debt as a service. Their platform and API allow companies to lend to their users at scale with an easy-to-understand debt line that can provide lenders with 10x leverage in as little as 12 months without undergoing months of negotiations. complex and stringent or onerous conditions, including low and dilutive advance rates. warrants. In the first six months since launch, Sivo has generated $6 billion in debt financing demand and is expected to grow to over $10 billion by the end of 2022. The company has raised $15 million from Y Combinator, Maple VC, Dash Fund, Day One Ventures and Nordstar. Sivo is accessible globally, with a waitlist in North America, UK, Europe, India, Latin America, Southeast Asia and Africa.

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SOURCE: Canopy Maintenance

Copyright BusinessWire 2022.

PUBLISHED: 03/23/2022 09:54 / DISK: 03/23/2022 09:54

Copyright BusinessWire 2022.

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