The partnership will see MoneySuperMarket integrate into the Canopy app, providing renters with access to a whole host of financial products, starting with energy and broadband based services. As a socially responsible platform, Canopy will donate £1 from each conversion to charitable causes including homelessness.
Having already launched deposit free renting and rent tracking solution for Renters, Canopy’s high profile partnership with MoneySuperMarket is the next stage in its mission to truly help “Generation Rent” become “Generation Own”. The Canopy app allows users to build their credit history through regular rent payments, aiming to improve their access to more affordable financial products including mortgages.
Renters create a ‘Rent Passport’ on the Canopy app where they build a Trust Score, and instantly verify everything from their income, creditworthiness, employment to their regular rent payments and past references, meaning landlords can feel secure in choosing a suitable candidate for their property.
Tahir Farooqui, CEO and founder of Canopy, said: “MoneySuperMarket has been a bastion of consumer choice for many years and this partnership is, for the very first time, bringing consumer choice and needs even further to the fore in the property rental space; making a positive social impact to an industry in vital need of reform and innovation.”
Tom Markham, Business Development Director at MoneySuperMarket, said: “We are excited to be working in partnership with Canopy, helping renters find the best energy deals through our free and easy to use service. This partnership supports our ambition to make switching as accessible and stress-free as possible – helping more households make the most of their money.”
Canopy’s aim is to build trust between renters, landlords and estate agents. It was founded in 2016 by Tahir Farooqui after he saw how his younger brother struggled to find the large sum cash deposit typically required by landlords. The company’s mission is to solve this growing deposit crisis for ‘generation rent’.
The service offers an alternative solution as users are able to access an on-demand insurance platform that generates real-time prices for deposit insurance, and rewards the good behaviour of trustworthy tenants. This removes the headache for landlords.
