Swiss bank Credit Suisse ramped up its fintech prowess with a 10 percent stake in a Singapore-based data aggregation platform for the wealthy.
Singapore-based fintech Canopy announced it has raised fresh funding of $3.4 million from investors including Switzerland's second-largest bank Credit Suisse as well as Lionrock Capital.
Canopy, formerly known as Mesitis, is a Singapore-based anonymous account aggregation and analytics platform for financial institutions, wealth management professionals, and high net worth individuals.
Eying Swiss Expansion
Clients can upload any file format, for any asset, in any currency for standardization and presentation by the platform. Canopy provides daily valuation updates to ensure that the portfolio and respective analytics remain up to date.
The new investment will support Canopy’s expansion to key wealth markets, including Zurich and Hong Kong, and will accelerate new product development. Assets under Reporting (AuR) at Canopy have increased ten-fold since 2015 from $1 billion to $10 billion this year.
Canopy founder Tanmai Sharmarecently spoke with finews.asia on his journey developing the financial technology firm. Credit Suisse announced its pilot with Canopy earlier this year.
