[CEO of Seoul fintechlab 2 Startup] Canopy, a company developing a fintech platform for real-time payroll settlement.

Andrew Lee, CEO of Canopy

Enables workers to access funds in real time based on the hours they worked
Users can request the funds they need within their allowance and receive them immediately in their account

Canopy is a startup that develops a fintech platform for real-time payroll settlement. The company was founded in April 2024 by CEO Andrew Lee (35).

CEO Lee started his career in consulting at KPMG in New York, then worked in cross-border M&A advisory at Samil PwC and strategic partnerships at Google before founding Canopy.

Canopy is a real-time earned wage access platform that redefines the way companies settle payroll at set intervals, enabling workers to get paid in real time based on the hours they work.

"Canopy is a pay on-demand solution that allows employees to cash out the value of their time in real time. Traditionally, paydays are fixed, so no matter how many days you work, the only time you get paid is usually once a month. Canopy changes this fixed trend. Employees 'check in' through the app when they arrive at work, then it automatically accumulates hours worked, which are then automatically calculated and converted into a real-time available amount. Within this amount, users can request the funds they need and receive them instantly in their account."

Canopy is a service that can help any worker who wants to make their cash flow more flexible. It's practical as an 'option to use whenever you need it'. It's ideal for part-timers and new hires who frequently have short-term funding needs, as well as full-time or mid-career workers with a stable income.

"It allows for a structure that doesn't necessarily force you to take out loans or credit cards when unexpected expenses arise. Even if it's not an emergency, it's great to have the ability to finance on your own timing and not rely on a fixed payday each month."

Canopy accumulates funds in real-time based on clear criteria of working hours and makes them available immediately when needed. This gives workers more control over their time, helping them manage their lives and finances more effectively without incurring unnecessary financial costs.

Because Canopy is based on the fact of 'hours worked,' regardless of credit score or financial history, there is no interest or credit risk. As a result, employees can access liquidity without relying on high-interest financial products, and businesses can offer their employees practical options in a straightforward manner, without complicated systems.

Funds applied for through Canopy are deposited into users' accounts within five minutes on average. The fast and intuitive user experience has resulted in 70% of all users returning at least twice a month. This shows that Canopy is highly effective in the real world and provides real value.

"From an enterprise perspective, the strengths of Canopy are clear," said CEO Lee. "We can easily authenticate employees without integrating with HR or payroll systems, allowing us to provide real liquidity support with no risk or operational burden upon adoption. Most importantly, Canopy serves as a practical alternative to high-interest financial instruments (e.g., credit card loans, cash advances, etc.) for employees who require short-term cash flow. On average, we estimate that users can save around KRW 250,000 to 300,000 per year in financing costs, which is meaningful because it brings more than just convenience. Still, it offers a structured financing alternative."

We recently partnered with 'Weinc,' a comprehensive welfare mall operated by Conia Lab Co., Ltd., to develop an integrated system that enables employees of various companies using the mall to easily access Canopy's services. This will allow Canopy to be seamlessly integrated into the existing welfare infrastructure, making it easy for companies to offer new liquidity options to their employees.

Canopy received a pre-seed investment from Hanwha Hotels & Resorts upon its launch. In May 2025, the company finalized its seed funding, which included Indonesian capital, with Seoul National University Technology Holdings as the anchor investor. Since then, the company is planning to raise a bridge round of funding before Series A to expand its service scope and customer base.

Canopy is comprised of CTO Kim Bada, a former member of Karrot; CSO Park Byungkwan, the founder of Korea's largest HR community, 'GGMJ’; Leader Ahn Daehwan, a former BPO of Hyundai Vendys (Korea's first meal pass service); and Senior Engineer Jang Minhyung, a former member of Dunamu and Musinsa.

"First, we will aggressively expand our customer base so that more users in Korea can naturally encounter Canopy and have experiences that actually help them in their daily lives," CEO Lee said about his plans, adding, "We want to create a world where the structure of instant liquidity for hours worked becomes the norm, regardless of industry and company size."

Founded: April 2024
Key business areas: Fintech platform for real-time payroll settlement
Achievements: Established partnerships with various financial companies such as KB Financial Group, K Bank, DOUZONE, Welcome Financial Group, and so on; signed a strategic partnership with Conia Lab (Weinc); accepted into the 16th KIBO Venture Camp (won the grand prize on the KIBO Venture Camp Demo Day); selected as a global member of KB Starters, KB Financial Group; selected as a member of Orange Planet's regular recruitment for the first half of 2025; selected as a tenant company of the 2nd Seoul Fintech Lab; and so on.

reporter jinho lee
jinho2323@hankyung.com