What Canopi does

Canopi is an India-based B2B marketplace platform that connects corporates, dealers, distributors, and vendors with banks and NBFCs for supply chain and working capital finance. Founded in 2017 and headquartered in Bangalore, the company serves MSMEs and mid-to-large corporates, facilitating financing across the procurement-to-distribution value chain including vendor finance, channel finance, receivable and payable finance, dynamic discounting, and factoring. The platform claims 57+ corporate clients, 12+ lending partners (including Tier-1 institutions such as ICICI Bank, Union Bank of India, Axis Bank, and Cholamandalam), and 1000+ Cr in monthly loan disbursements.

The underlying technology is a cloud-based, API-first supply chain finance platform featuring straight-through processing via ERP integration, a digital loan origination system, automated credit underwriting, and factoring automation including Notice of Assignment generation and e-signing. The platform also exposes API services for lenders covering address and identity verification, income verification, and data master services, and offers a Banking as a Service layer that provides onboarding, origination, and underwriting capabilities to lending partners.

Canopi monetizes through marketplace commissions and transaction fees on facilitated loan disbursements, supplemented by technology and BaaS fees from lenders using its onboarding, origination, and underwriting infrastructure. The go-to-market combines a self-serve digital portal (with ERP/API connectivity) for mid-market clients and a direct enterprise sales motion — via "Schedule a Demo" and "Contact us" CTAs — for large corporates. The distribution strategy is single-country (India), serving both sides of the marketplace: corporates/borrowers on the demand side and Banks/NBFCs on the supply side.

Name

Canopi

Website

https://canopi.in

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Canopi is an India-based B2B marketplace connecting corporates, dealers, distributors, and vendors with banks and NBFCs for supply chain finance, invoice discounting, channel finance, and working capital solutions.

Ownership category

akta.pro rank

Product category

Supply Chain Finance Platform

NAICS

Mortgage and Nonmortgage Loan Brokers (52231), Activities Related to Credit Intermediation (5223)

SIC

Loan Brokers (6163), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Invoicing, Billing & Accounts Receivable Automation (FSAGAJAC)

akta.pro secondary industries

Lending & Credit Disbursements (FSAMAKAH), SME Credit Risk, Underwriting & Financial Data (B2B Fintech Data/Decisioning) (FSAGAJAM)

Keywords

• Supply chain finance
• MSME lending marketplace
• Invoice discounting
• Vendor financing platform
• Banking as a Service

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Marketplace Commission: Canopi operates as a marketplace connecting multiple lenders (Banks & NBFCs) with corporates, dealers, distributors, and vendors. Revenue is generated through transaction fees or commissions on facilitated loan disbursements between lenders and borrowers.
2. Transaction Fee: Fees charged on loan disbursements processed through the platform. With monthly disbursements of 1000+ Cr, the platform facilitates high-volume financing transactions.
3. Technology/BaaS Fees: Revenue from Banking as a Service offerings including Digital Onboarding, Loan Origination System, and Credit Underwriting services provided to lenders.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels2 records

Core offering

Canopi operates an online B2B marketplace that connects MSMEs (corporates, vendors, dealers, distributors) with multiple lending partners (Tier-1 Banks and NBFCs) for supply chain finance, working capital, trade finance, and channel financing. Its cloud-based platform supports vendor finance, channel finance, dynamic discounting, receivable and payable finance, factoring, and provides Banking-as-a-Service capabilities (digital onboarding, loan origination, credit underwriting) along with verification APIs. The platform facilitates over 1,000+ Cr in monthly loan disbursements through straight-through processing via ERP integration and APIs.

Product overview

Canopi is a one-stop marketplace for MSME finance, operating as a platform-plus-modules architecture. The core offering is a Supply Chain Finance platform that encompasses Channel Finance, Vendor Finance, Receivable Finance, Payable Finance, Dynamic Discounting, and Factoring Platform modules. Supporting this are Working Capital products (medical equipment finance, instant OD), Trade Finance (export factoring), and Banking As a Service (digital onboarding, loan origination, credit underwriting). API Services provide address verification, identity verification, income verification, and data master capabilities. The platform integrates with multiple lenders (57+ corporates, 12+ lending partners) and processes over 1000 Cr in monthly loan disbursements.

Differentiator

Problem solved

Functional benefit

Products and services

• Supply Chain Finance Comprehensive supply chain financing platform that enables corporates to streamline and extend credit to dealers and suppliers. Covers vendor financing, dynamic discounting, purchase order finance, channel finance, and merchant pay later solutions. For corporates, vendors, dealers, and distributors seeking supply chain finance products.
• Working Capital Marketplace products designed to expand business and bridge working capital gaps, including medical equipment finance and instant overdraft facilities. For MSMEs and businesses needing working capital solutions.
• Trade Finance International trade financing solutions providing upfront payments and insurance coverage for shipments, including export factoring to mitigate payment risks and optimize cash flow in imports and exports. For businesses engaged in international trade.
• Banking As a Service Marketplace platform offering a wide range of early payment solutions from multiple lenders, featuring digital onboarding, loan origination system, and credit underwriting capabilities. For Banks and NBFCs that want to lend into the Canopi network of dealers, distributors, and vendors.
• API Services Developer-facing API services enabling the fastest verification and onboarding for lenders, including address proof and identity verification, income verification, and data master APIs. For Banks, NBFCs, and fintechs needing customer verification and onboarding APIs.
• Channel Finance Connects dealers and distributors with lenders through a channel finance platform, providing easy access to unsecured financial limits for purchases, increasing sales and empowering channel partners. For corporates and their dealer/distributor networks.
• Vendor Finance Facilitates early payments to vendors and connects them with institutional lenders, optimizing working capital, improving cash flow, and strengthening supply chain relationships. For corporates and their vendor/supplier networks.
• Receivable Finance Empowers businesses to access capital by leveraging outstanding invoices, leading to improved cash flow through accelerated payments beyond standard terms. For MSMEs and corporates holding accounts receivable.
• Payable Finance Helps optimize cash flow and strengthen supplier relationships by extending payment terms, negotiating better rates, and securing capital to pay suppliers early. For corporates managing supplier payments.
• Dynamic Discounting Streamlines cash flow, enhances working capital, and expands business by enabling on-tap funding for clients through early payment discount optimization. For corporates and their supplier networks.
• Factoring Platform Streamlines and automates factoring transactions, Notice of Assignment generation, and e-signing for both factoring and reverse factoring. For businesses and lenders engaged in factoring transactions.

Quantifiable outcome

• 1000+ Cr monthly loan disbursement volume

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• M1xchange: M1xchange is a TReDS (Trade Receivables Discounting System) platform operated by Mynd Solutions, directly competing with Canopi in invoice discounting and receivables finance for MSMEs and large corporates in India. Both play the same matchmaking role between suppliers and multiple financiers.
• Cashflo: Cashflo is a B2B supply chain finance platform offering early payment, dynamic discounting, and working capital solutions to corporates and their suppliers — a direct functional peer to Canopi's SCF and dynamic discounting modules.
• RXIL (Receivables Exchange of India): RXIL is one of the three licensed TReDS platforms in India, supporting receivables discounting for MSMEs against buyers including large corporates and government entities. It is a regulated, direct competitor to Canopi's invoice discounting marketplace.
• Invoicemart: Invoicemart is a TReDS platform operated by a joint venture of mjunction and Axis Bank, providing invoice discounting and receivables financing. It overlaps directly with Canopi's receivable finance product and the broader SCF offering.
• FinAGG Technologies: FinAGG provides an invoice discounting and supply chain finance marketplace serving MSMEs, vendors, and dealers with multi-lender access. It competes with Canopi in the receivables and working capital marketplace segment.
• Vayana Network: Vayana Network operates a supply chain and trade finance network linking corporates, SMEs, and financial institutions. It directly overlaps with Canopi's multi-lender SCF marketplace offering.
• KredX: KredX is an invoice discounting and supply chain finance marketplace connecting businesses with multiple lenders. It is the closest functional peer to Canopi's receivable finance and supply chain finance marketplace model in India.

Emerging players

• Lendingkart: Lendingkart is an MSME lending platform providing working capital and term loans to small businesses, overlapping with Canopi's Working Capital and channel finance products though operating as a direct lender rather than a multi-lender marketplace.
• Flexiloans: Flexiloans is an MSME-focused digital lending platform that connects small businesses with banks, NBFCs, and fintech lenders. Comparable to Canopi in serving MSMEs with multi-lender access, though more focused on direct MSME loans than supply chain finance.

Regional players

• Karbon Business (formerly KarbonCard): Karbon Business provides corporate cards, vendor payments, and supply chain finance to Indian SMBs and corporates. Adjacent to Canopi's payable finance, vendor finance, and BaaS offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/canopi-india-private-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Canopi