Canopy and Sivo Forge Partnership for Embedded Lending
Canopy is thrilled to announce our partnership with Sivo, the first of its kind provider of debt-as-a-service. Together, we are removing obstacles that made it difficult for innovators to launch and scale next-generation financial products.
In the past, debt financing has proven to be a significant hurdle to Fintechs, neobanks, and brands that wanted to bring new products to market. They needed to negotiate complex agreements — often involving hefty legal expenses, high facility fees, and dilutive warrants. All this took time — six months and sometimes more.
Our partnership allows joint clients using Canopy’s loan management and servicing platform and Sivo’s API for programmatic debt financing to access the funds they need to scale. We enable streamlined due diligence that can unlock up to 10x leverage. Clients are able to bring products to market in record time and scale to meet borrower demand without the constraints of traditional financing arrangements.
“Canopy and Sivo are breaking ground by offering configurable debt on-demand,” said Canopy CEO Matt Bivons. “Originators are able to request a debt line that matches their specific business goals and in turn offer personalized, transparent, and safer credit and lending products to their users. Canopy and Sivo’s partnership is about helping our clients go to market faster, with less risk overall and with greater transparency.”
Companies can configure unique credit products, launch them on Canopy’s loan management and servicing platform, and safely manage risk by partnering with Sivo’s seasoned credit and risk experts to determine the best course of action. Canopy’s platform also calculates interest and fees in real time, allowing for real-time due diligence on Sivo’s platform. The transparency provided by Canopy and Sivo’s combined tech-first, embedded approach makes it possible for Sivo to extend leverage as lending programs hit key metrics and grow with their users.
“We are unlocking an opportunity for companies to bring the next generation of credit and lending products to market,” said Kate Hiscox, Co-Founder, and CEO of Sivo. “Traditional debt facilities can be slow, costly, dilutive, and inflexible. With Canopy and Sivo, financial innovators get 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 a natural fit because we’re both committed to supporting our clients with the modern technology and expert services they need to ensure new financial products are compliant, profitable, and valuable.”
What is Canopy?
We believe in building technology that helps facilitate better life experiences. Financial products have largely been the same, lacking transparency and control. Canopy is built for developers to launch and service financial products in the most flexible way.