Investment of $3.1 million in early stage by Savvyy Technologies
In a significant development for the credit technology sector, Savvyy Technologies, a Toronto-based company specializing in credit software and infrastructure solutions, has successfully closed a $3.1M seed round.
The funding, led by angel investors Joe Canavan, Michael Zych, Kevin Walton, Michael Vanderkaden, and ScaleUp Ventures, will be utilised to modernize Savvyy Technologies' credit infrastructure. This move is expected to enable lenders to automate and simplify the credit process, making it more efficient and accessible.
The seed round, which took place on November 9, 2021, also included a simple agreement for future equity. This funding brings Savvyy Technologies' total funding to $5.7M.
Jeremy Lin from Hoskin & Harcourt s.e.n.c.r.l./s.r.l., a law firm that advises emerging and high-growth companies, advised Savvyy Technologies on this round. André Perey from the same firm also provided counsel.
While further information on Savvyy Technologies' latest developments and future plans beyond the seed round is not readily available, it's worth noting that there seems to be some confusion regarding the company with similar names such as Savvy Games Group or Savvycom. These entities are involved in different areas, like gaming and software development, and have not been linked to a recent seed round or related developments.
Savvyy Technologies is poised to make significant strides in the credit technology industry with this investment, bringing convenience and efficiency to the credit process for lenders and borrowers alike.
The funding raised by Savvyy Technologies will primarily be used to advance its credit infrastructure, integrating modern finance technology. This technology-driven approach aims to streamline the credit process for lenders, enhancing overall efficiency and accessibility.
