Seoul National University Technology Holdings Invests in Canopy

Canopy attracted seed investment from Seoul National University Technology Holdings in May. The investment amount was undisclosed.

Prior to this investment, Canopy had received a pre-seed investment from Hanwha Hotels & Resorts. It was reported that Seoul National University Technology Holdings participated in the investment from the perspective of Canopy’s real-time payroll settlement technology, the possibility of expanding financial services based on it, and technology-based solving of social issues.

Canopy operates a platform that allows workers to receive real-time wages proportional to the hours they work.

Lee In-hu, CEO of Canopy, said, “Seoul National University Technology Holdings’ participation has become an important milestone in establishing infrastructure that restores workers’ financial autonomy and rhythm of life,” and “Based on this investment, we are also preparing to expand to regions with low financial accessibility, such as Southeast Asia.”

Seoul National University Technology Holdings Team Leader Sangwoo Shim said, “Canopy is a company that has implemented a new financial infrastructure called real-time payroll settlement, and has a model that is structurally less burdensome for both employers and workers.” He added, “We highly evaluate its growth potential in terms of its future expansion into BaaS (Banking as a Service) and hyper-personalized finance.”

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