Matt Bivons is founder and chief executive of Canopy, the Delaware company whose API-first loan management platform lets commercial and embedded lenders run revolving, installment, and hybrid credit products.
From Design To Servicing
Bivons co-founded Canopy in 2019 with Will Hanson. The founders had seen how much an old loan system of record holds a lender back: inflexible rules and policies slow every product change, and borrowers get a worse experience. Canopy’s core thesis, in his words, is that "every company eventually gets into lending," and that it always starts at servicing, the rules, ledgers, and communications that govern a loan from the day it is funded until it is paid off.
The first product was a student credit card. He later stripped that work away and concentrated on the servicing infrastructure, then dropped consumer lending altogether when most of the demand came from business lenders. That focus paid off. Foundation Capital and Infinity Ventures co-led a $15.2 million Series A1 in October 2023, after earlier backing from Canaan and Homebrew, and the company processed more than $1 billion through its software that year.
The Business Lending Core
Canopy now sells to fintechs and enterprises that offer credit to businesses. Lenders can use it as their system of record or as the integration layer they build on, and they can configure interest, fees, payment plans, and borrower messages without rewriting the core. Flexport is among its customers. Bivons still talks about servicing as the part of lending most companies treat as a cost, and about turning it into something that helps a lender keep and grow its borrowers.
