Banking & Finance

Canapi Ventures Enables 2-year-old Startup Able

By Jenny Callison, posted Jul 1, 2022
An investment by Canapi Ventures is increasing the capacity of a tech startup to serve commercial lenders. Canapi led the recent Series A capital raise by San Francisco-based Able, a 2-year-old company that has built a system to speed up the processing of documents and other data required for commercial loans.
Canapi’s share of the $20 million total was not disclosed.
Able is an artificial intelligence (AI) platform that expedites commercial loan processing to save time and money for everyone involved in the transaction: lenders, borrowers, accountants, appraisers and lawyers.

“Canapi has been a true partner in our growth,” Canapi Ventures’ website quotes co-founder Diego Represas as saying. “Beyond leading our Series A, they have given us access to experts, knowledge and partners that would have taken us years to develop on our own.”

In a post on the Canapi Ventures website, company officials explained why the fund decided to invest in Able.

“It’s rare that Canapi invests in companies at formation stage, but after meeting [co-founders] Diego and
Andrew [Hurst] in 2019 we felt there was a clear opportunity to change the shape of the commercial lending industry,” the post reads.

Before opening the cash register, however, Canapi Ventures invited Represas and Hurst to spend “hundreds of hours” with lenders in the Canapi network to prove the worth of their AI platform.

Venture capital firm Canapi Ventures invests in early- to growth-stage financial technology companies. It was founded in 2018 by Gene Ludwig, founder and chairman of Promontory Financial Group, and James “Chip” Mahan, CEO and chairman of Live Oak Bancshares.
Ico insights


Adamshay 300x300

Will ChatGPT Do My Taxes Next Year?

Adam Shay - Red Bike Advisors
2022052 75 142344351

Elevating Education for a Brighter Economic Future: NHCS Shines in Remarkable Academic Growth

Natalie English - Wilmington Chamber of Commerce
Drewsmith copiersplus headshot

A Little More Communication, A Lot More Cohesion

Drew Smith - Copiers Plus

Trending News

For 348-townhome Project, Carroll Companies Reschedules Community Meeting

Staff Reports - Sep 25, 2023

Crossing That Bridge (and Road, Track, Sky And Water)

Cece Nunn - Sep 25, 2023

Culinary Blends At New Olivero Restaurant

Katie Schmidt - Sep 25, 2023

SeaTox, Partners Awarded $1.5M Grant For Contamination Testing In Alaska

Audrey Elsberry - Sep 26, 2023

Bowling, Murphy Join EmergeOrtho Coastal Region

Staff Reports - Sep 26, 2023

In The Current Issue

Trail Clear For Sunset Beach Development

That project involves making a cascade of improvements to Sea Trail Plantation, a 2,000-acre golf and country club development located near...

INFO JUNKIE: Holden Bierman

The founder and CEO of Coastal Cool shares his top info and tech picks....

Startup Banks On User Needs

The fundraising from the company’s seed round, which was announced in late August, is just the latest multi-million-dollar capital fundraisi...

Book On Business

The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



2023 Power Breakfast: Major Developments