Biography of Prabal Krishna: Founder and Director of Canopi India Private Ltd
Journey of Prabal Krishna:
In 2015, Prabal Krishna co-founded Canopi India Private Ltd
in Bengaluru with a clear purpose in mind: to make business financing easier
and more accessible for small and medium enterprises (SMEs). With a background
in engineering and a passion for solving real-world problems, he aimed to
bridge the gap between small businesses and timely financial support.
Early Foundations
Prabal's educational journey began at the University of
Mysore, where he built a strong foundation in his chosen field. With this
academic background, he developed a keen understanding of both technology and
business, which later became essential in building Canopi.
Starting with a Bold Step
Canopi India officially took shape in September 2017 with a
simple but powerful mission: ensure that every invoice gets financed. The idea
was to help businesses avoid cash flow issues by providing quick, short-term
loans against their invoices. This way, they wouldn’t have to wait months to
get paid by their customers.
Building the First Product
By April 2018, the team had launched a Vendor Finance
Marketplace. This product allowed suppliers to get upfront payments for their
invoices, while buyers could pay later. It helped both sides manage their
finances more efficiently and started gaining attention in the market.
Expanding Finance Solutions
In October 2018, Canopi expanded its offerings with a
Channel Finance Product. This helped distributors and resellers access credit
based on their sales, further supporting businesses that were traditionally
underserved by banks and large financial institutions.
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Going Digital with SaaS
Canopi stepped into the SaaS space in March 2019 by
launching a software product for its customers. This platform allowed
businesses to manage their invoices, track payments, and apply for
financing—all in one place. It marked a significant step in making finance
accessible and tech-driven.
Supporting Global Trade
In July 2019, Canopi introduced a Trade Finance Product for
Exporters. This allowed export businesses to get funds upfront for their
international invoices, helping them compete better in global markets without
facing cash flow delays.
Innovating with Discounts
Responding to changing business needs, Canopi added a
Dynamic Discounting Product in March 2020. This feature allowed buyers to pay
their suppliers early in exchange for discounts, creating a win-win situation
for both parties and boosting trust within supply chains.
Launching CanopiPAY
In August 2021, the company unveiled CanopiPAY, a flexible
financing solution that streamlined the process of paying and getting paid. It
was designed to make transactions smoother and help businesses manage their
working capital more effectively.
Finance for Dealers and Factoring
By September 2022, Canopi launched a Tier-2 Dealer Finance
and eFactoring Platform, specifically catering to smaller dealers who often
struggle to access formal credit. The platform allowed them to get financing
digitally, backed by invoices, and repay once payments were received.
A Steady Growth Path
Under Prabal’s leadership, Canopi has grown steadily. His
role as Co-founder and Director remains central to guiding the company’s
vision. He also took on a senior position as Senior Principal Engineer at
Emulex in April 2023, continuing to contribute to the tech industry while
building Canopi’s future.
Driving Inclusive Finance
At its heart, Canopi was built with a purpose—to simplify
finance for small businesses. With a passionate team of technologists and a
clear goal, the company continues to support entrepreneurs who lack easy access
to capital. Thanks to Prabal’s drive and vision, Canopi is making invoice
financing smarter, safer, and more inclusive for India’s growing business
landscape.
A Timeline for story
2015 – Co-founded Canopi India Pvt Ltd
Sept 2017 – Canopi officially launched
Apr 2018 – Vendor Finance Marketplace launched
Oct 2018 – Channel Finance Product introduced
Mar 2019 – SaaS platform launched
Jul 2019 – Trade Finance Product for exporters introduced
Mar 2020 – Dynamic Discounting Product added
Aug 2021 – CanopiPAY launched
Sept 2022 – Tier-2 Dealer Finance and eFactoring launched
Apr 2023 – Became Senior Principal Engineer at Emulex
