About Canopy
Canopy is a company based in London (United Kingdom) founded in 2015 by Rakesh Murria and Mohammad Tahir Farooqui. It operates as a SaaS (Software-as-a-Service), Professional Services, and PropTech. Canopy has raised $12.38 million across 4 funding rounds from investors including Experian, West Hill Capital and Vision Blue Ireland. The company has 38 employees as of September 30, 2023. Canopy has completed 1 acquisition, including The Lettings Hub. Canopy offers products and services including RentPassport, Referencing Services, and Moving Services. Canopy operates in a competitive market with competitors including Flatfair, CreditLadder, Reposit, Fronted and Zero Deposit, among others.
- Headquarter London, United Kingdom
- Employees 38 as on 30 Sep, 2023
- Founders Rakesh Murria, Mohammad Tahir Farooqui
- Stage Minicorn
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Sectors
Financial ServicesReal Estate & Construction
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Insurestreet Limited
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$12.38 M (USD)
in 4 rounds
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Latest Funding Round
$2.48 M (USD), Seed
Jun 26, 2020
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Investors
Experian
& 2 more
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Employee Count
38
as on Sep 30, 2023
- Investments & Acquisitions
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Products & Services of Canopy
Canopy offers a comprehensive portfolio of products and services, including RentPassport, Referencing Services, and Moving Services.
A tool for renters to prepare rental applications efficiently.
Fast referencing solutions are provided for agents and landlords.
Seamless moving services are offered to assist renters.
People of Canopy
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Funding Insights of Canopy
Canopy has successfully raised a total of $12.38M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $2.48 million completed in June 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Seed — $2.5M
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First Round
First Round
(05 Apr 2017)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2020 | Amount | Seed - Canopy | Valuation | West Hill Capital |
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| Feb, 2019 | Amount | Seed - Canopy | Valuation | West Hill Capital , Vision Blue Ireland | |
| Apr, 2018 | Amount | Seed - Canopy | Valuation |
investors |
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Investors in Canopy
Canopy has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Experian, West Hill Capital and Vision Blue Ireland.
| Investor | Description | Founded Year | Domain | Location |
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Growth-stage venture capital investments are provided by West Hill Capital.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location | |
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Experian is recognized as a leader in credit reporting and financial services.
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Founded Year | Domain | Location |
Investments & Acquisitions by Canopy
Canopy has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include The Lettings Hub.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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SaaS-driven tenant referencing & insurance solution for tenants & landlords
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2016 |
Financial Statements - Canopy
Canopy Comparisons
Competitors of Canopy
Canopy operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Flatfair, CreditLadder, Reposit, Fronted and Zero Deposit, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
A deposit-free rental platform is offered to tenants and landlords.
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| domain | founded_year | HQ Location |
SaaS-driven credit building platform
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| domain | founded_year | HQ Location |
Alternative to tenancy deposits is provided via insurance-backed guarantee.
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| domain | founded_year | HQ Location |
Offers deposit transfer service for UK tenants to avoid double payments when relocating.
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| domain | founded_year | HQ Location |
Alternative security deposits are provided for rental properties.
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Frequently Asked Questions about Canopy
Canopy was founded in 2015 and raised its 1st funding round 2 years after it was founded.
Canopy is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Mohammad Tahir Farooqui is the current CEO of Canopy. They have also founded this company.
Canopy is a funded company, having raised a total of $12.38M across 4 funding rounds to date. The company's 1st funding round was a Seed of $2M, raised on Apr 05, 2017.
As of Sep 30, 2023, the latest employee count at Canopy is 38.
Canopy, operated by InsureStreet Limited, is engaged in transforming the rental experience through innovative technology solutions. Services are provided to renters, agents, and landlords, including fast referencing tools and seamless moving support. The company operates within the PropTech sector, offering digital tools like RentPassport to enhance rental readiness. Regulated financial services are also facilitated through partnerships, ensuring compliance and trust in transactions.
Canopy's top competitors include CreditLadder, Flatfair and Reposit.
Canopy offers RentPassport, Referencing Services, and Moving Services.
Canopy has made 1 acquisition, including The Lettings Hub.
Canopy has 3 investors. Key investors include Experian, West Hill Capital, and Vision Blue Ireland.
The valuation of Canopy is $19M as of Jun 2020.