Case Study: Novo launches multi-credit financing with Canopy

How Novo Built B2B Multi-Credit on Canopy

Novo, a platform providing banking services to small businesses, sought to launch an innovative multi-draw credit product. They needed a sophisticated credit portfolio servicing platform to manage this new offering and its inherent risks. They chose Canopy as their vendor, utilizing its Ledger, DataDirect, and Multi-Advance products to build the solution.

Canopy provided the core infrastructure, serving as the system of record and enabling flexible multi-draw functionality for customers. The solution allowed Novo to successfully launch its B2B Multi-Credit product, providing them with the data needed to service their portfolio and offer clear financial insights to their customers. By partnering with Canopy, Novo empowered small business owners with faster access to episodic working capital.

Novo

Kevin Phillips

EVP & GM