Canvas is a Silicon Valley mobility startup that offers short-term vehicle leasing and is backed by auto industry giant Ford Motor (F) - Get Report . Now, with the vehicle behemoth behind it, Canvas is starting to offer variable-term leases with flexible payment options to customers in the Bay area, Reuters reports.

"Our mission is to identify, test and launch financial products that meet the changing needs of consumers," Canvas CEO Ned Ryan told Reuters.

Canvas began as an earlier startup known as Breeze, in November 2016 Ford Credit acquired its assets and rebranded the company as Canvas seeing an opportunity to broaden its audience, Reuters said.

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