Data aggregation fintech firm Canopy has closed its latest funding round, which saw the participation of a combination of private and institutional investors.
The Singapore-based fintch has capped off a strong year that has seen the company rapidly grow and diversify its client base, with an influx of funding from new and existing investors such as Dymon Asia, Credit Suisse, and Seeds Capital, the investment arm of Enterprise Singapore, it announced in a media statement this week.
The company operates an anonymous account aggregation and analytics platform for financial institutions, wealth management professionals, and HNWIs.
The new funds, the sum of which was undisclosed, will be used to drive profitability and continued growth in markets like Asia and beyond, and to roll out «Canopy Extract,» a product targeted external asset managers, allowing them to collect data from multiple custodian banks in a comprehensive and consistent format.
Stong Growth
Founded in 2014 by former Deutsche Bank managing director Tanmai Sharma, Canopy now services thousands of clients globally, with a staff of almost 50 across offices in Singapore and Switzerland.
Raffles Family Office, Corecam, Credit Suisse and Bank of Singapore, among others, are Canopy clients in the region.
