Covarity and Valeyo Unite to Form Covaleyo - Bringing Together Trusted Expertise in Loan Origination and Monitoring Solutions for Canadian Financial Institutions

TORONTO, April 14, 2025 /CNW/ - Covarity, a trusted provider of advanced Loan Monitoring Software (LMS) used by financial institutions to oversee and analyze over half of Canada's margined loans, and Valeyo, a leading Loan Origination System (LOS) partner to Canadian credit unions, today announced they are coming together to form Covaleyo. This strategic combination brings together two complementary organizations to deliver solutions that simplify the lending lifecycle — from origination to monitoring — for banks and credit unions across Canada.

Unlocking Greater Value for Financial Institutions

The creation of Covaleyo represents a transformative opportunity to deliver enhanced value to customers by aligning two established leaders under a shared vision. Together, the unified team will offer a more robust portfolio of products and services that address the evolving needs of modern lenders in the retail, commercial, and agricultural sectors.

"By bringing together Covarity and Valeyo, we're uniting two organizations with deep roots in the Canadian financial services industry," said Nathan Cogger, newly appointed General Manager of Covaleyo. "This collaboration is about growth, innovation, and delivering even greater value."

"Covaleyo empowers banks and credit unions to better serve their communities with lending technology that supports the full lending journey. Bringing together two proven products into one end-to-end platform means better decisions, quicker service, and stronger member outcomes." said Mitchell Francis, Portfolio Manager.

While this alignment brings together two strong brands, there are no immediate changes to the products and services our clients use today. Product teams will remain focused and dedicated to ensuring uninterrupted service, and over time, we will align our strategies to deliver more integrated solutions.

Covaleyo Highlights

• Comprehensive Product Suite: Covaleyo combines best-in-class origination and monitoring tools with a vision to offer a seamless, end-to-end lending platform tailored to the needs of Canadian financial institutions.
• Accelerated Innovation: With increased scale and a shared mission, Covaleyo will invest more deeply in R&D to deliver next-generation lending technology.
• Expanded Expertise: The combined team brings together decades of experience and technical know-how, ensuring customers receive expert guidance and support.
• Customer-First Approach: Covaleyo remains steadfast in its mission to help customers solve their biggest challenges with intuitive, reliable, and future-ready software solutions.

Leadership and Continuity

Covaleyo will be led by Nathan Cogger as General Manager. Adam Moore will head Product and Engineering, while Erena Garcia and Dennis Smith will continue leading the development of ProLender and Covarity, respectively. This leadership structure ensures continuity while positioning the organization for future growth and innovation.

Please note, the legal business entity — Perseus Group Software Corp — remains unchanged.

About Covaleyo

Covaleyo is the trusted technology partner for Canadian banks and credit unions, delivering innovative lending software solutions for over 20 years. Covaleyo's portfolio includes:

• ProLender – a market-leading Loan Origination System powering over 30% of Canadian credit union loans, previously known as Criterion
• Covarity – a comprehensive Loan Monitoring Software solution supporting more than 50% of Canada's margined loans

Together, these solutions position Covaleyo as the go-to provider for financial institutions seeking to modernize their lending operations with confidence.

For more information about Covaleyo and this exciting new chapter, please visit www.covaleyo.com, visit our LinkedIn at https://www.linkedin.com/company/covaleyo/, or contact:

SOURCE Covaleyo

Press Contact: Irene Tran, Marketing Manager, [email protected]