Overview

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Status
Acquired by on April 19, 2012
Total Equity Funding
$11M in 4 Rounds from 8 Investors
Headquarters:
Kitchener, Ontario
Description:
Covarity is a developer of post-origination commercial loan monitoring and analysis solutions for financial institutions.
Founders:
Categories:
Banking, Analytics, Finance
Website:
http://www.covarity.com
Social:

Company Details

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Covarity is the leading developer of post-origination commercial loan monitoring and analysis solutions for financial institutions looking to measurably improve their overall portfolio health and performance. By automating the process of collecting and analyzing borrower financial data, Covarity enables financial institutions to manage credit risk on a loan-by-loan basis. By providing the insight and control that lenders need to profitably grow their portfolio - while reducing risk and enhancing client service - Covarity enables lenders to enjoy improved competitiveness, reduced costs, and richer client experiences.

Covarity's modular solution offers lenders the exact functionality they need for their portfolio segments, actually expanding and enhancing monitoring practices while reducing operational costs. Covarity empowers clients with actionable intelligence for proactive loan management across the portfolio, enabling them to act quickly on loan-by-loan concerns before they become serious.

Covarity's customers include RBC Financial, RBC Bank, Fidelity Bank, BMO Financial, Libro Financial Group, Laurentian Bank and Crestmark Bank.

Funding Rounds (4) - $11M

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DateAmount / RoundValuationLead InvestorInvestors
Sep, 2010$2.3M / Venture5
May, 2009$3M / Venture4
Feb, 2007$2.5M / Venture3
May, 2006$3.2M / Series B4

Current Team (2)

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Offices/Locations (1)

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  • HQ

    2300-30 Duke St. W

    3rd floor, Ontario Tower

    Kitchener, Ontario N2H 3W5

    Canada

Images (1)

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