Canopy, a real-time earned wage access (EWA) platform, announced that it has successfully attracted a total of USD 696,378 (1 billion KRW) in Seed 2 round investment from Smilegate Investment, Magellan Technology Investment, and CNTTech.

This round follows the Seed 1 round in May, which saw participation from Seoul National University Technology Holdings, and occurred approximately six months later. It was a follow-up investment that saw a rapid increase in corporate value compared to the previous round, rather than a simple multi-closing. As a result, Canopy has secured accumulated investment of USD 1,044,568 (1.5 billion KRW) in less than two years since its establishment.

Established in April 2024, Canopy simultaneously attracted initial investment from Hanwha Hotels & Resorts. Under the mission of ‘returning the power of wages to workers,’ Canopy introduced a service that allows employees to check their earned wages in real-time and withdraw them when needed.

From the employer’s perspective, the GPS-based check-in function allows for work hour settlement without the need for separate system integration or cost burden. Employees can immediately secure liquidity for living expenses, simultaneously alleviating financial stress and improving welfare.

Canopy has secured various domestic and international clients, including Hansol Group, Daekyo Group, Five Guys, and Zegna, who empathize with the necessity of EWA.

In particular, in partnership with KB Financial Group, Canopy is conducting a local Proof of Concept (PoC) in Singapore after being selected for the ‘K-Starter Global Program.’ The company is also exploring opportunities for global market expansion by building technological collaborations and networks with leading partner startups such as FuriosaAI and Sandbird.

Canopy CEO, In-hoo Lee, decided to start his own business after gaining consulting, M&A advisory, and other business experience at global companies such as KPMG, PwC, and Google. Lee stated his ambition: “We want to go beyond simple early wage settlement services and build a new fintech infrastructure that restores workers’ financial power, creating a global standard for fair financial opportunities.”

The company recently won the grand prize at the ‘2025 Seoul Fintech Week,’ proving its technological prowess and business viability. It has also been officially invited to the ‘2025 Singapore Fintech Festival,’ which will be held from November 12, where it is scheduled to participate in the global demo day.

Yu-jin Cho, Team Leader at Smilegate Investment, who participated in this round, commented, “Canopy has demonstrated market traction by securing large corporations and global brands in a short period. High potential is expected in the future, as it possesses both social value in terms of worker financial welfare and a profit model.”