Canopy raises £3.1m to build business

first_imgHome » News » Canopy raises £3.1m to build business previous nextProptechCanopy raises £3.1m to build businessThe Negotiator27th August 20190224 Views Canopy has raised £3.1m in funding and secured additional backing from Experian, allowing them to extend RentPassports to renters and letting agents.The funding, from West Hill Capital and Vision Blue Solutions, will accelerate partnerships with letting agents and drive growth.Founded by Tahir Farooqui in 2016, Canopy is used by 15,000 renters including Get Living Rettie and Tipi Homes. Canopy’s core proposition, RentPassport, enables renters to build a digital rental profile and access products including deposit free renting and tracking rental payments. Renters can see their rental payments on Experian’s CreditExpert. Early analysis by Experian showed that by adding rental data to credit reports, the number of tenants who can prove their identity online rises from 39% to 84%, broadening the range of financial services available. Tahir Farooqui, CEO, said, “It’s a privilege working with a team to build a rental platform aimed at having a positive social impact on the lives of millions of renters.” Robert Caie, Managing Partner, West Hill Capital, said, “West Hill is delighted to invest in Canopy at such an exciting stage in the company’s growth cycle. Canopy can already boast an impressive distribution network of agents and landlords such as Hamptons and Get Living, along with corporate customers such as PwC and John Lewis.” Canopy funding proptech Canopy August 27, 2019The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img

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