Tech Company Financing Transactions
Canopy Technology Funding Round
Canopy Technology, operating out of Claymont, secured $15.2 million from Foundation Ventures and Infinity Ventures.
Transaction Overview
Company Name
Announced On
10/11/2023
Transaction Type
Amount
$15,200,000
Round
Series A
Investors
Foundation Ventures (Lead Investor)
Infinity Ventures (Lead Investor)
Proceeds Purpose
The company intends to use the funds to accelerate growth, both organically and externally, and expand operations.
Company Information
Company Status
Private & Independent
Industry
FinTech
Mailing Address
Undisclosed
Claymont, DE 19703
USA
Claymont, DE 19703
USA
Phone
Undisclosed
Website
Email Address
Overview
Years ago, Canopy co-founder and CEO, Matt Bivons, decided to close a credit card. He called customer service to get his balance total, made his payment, and assumed he was in the clear. That is, until two months later when he saw his credit score drop by 20 points. Frustrated to see it was due to unpaid fees on the credit card he thought he'd already paid, he called back. As it turned out, Matt had interest that carried over from mid-cycle, and that interest had accumulated late fees. To add insult to injury, the representative could not tell him how much more he owed until the end of the cycle that following month or do anything about the credit score drop.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Matt Bivons
VP - Engineering
Boris Boroda
VP - Sales
Kirk Wells
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Where The Data Comes From
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