Cloud Lending Solutions announced that it had closed its latest financing round led by Cota Capital, with all existing investors participating. The proceeds will be used to continue its global expansion and to further develop its industry-leading lending platform.
Cloud Lending Solutions was founded in 2012 and is the lending industry's only cloud-based, end-to-end loan and leasing platform built natively on Salesforce, the world's #1 CRM company. Cloud Lending Solutions has more than 2,800 lending users in over 23 countries, who use its products to run all, or part of, their origination, underwriting, servicing and collections lending operations:
CL Originate™ is an underwriting platform for high-growth financial services. Cost-effective and agile, it manages loans, lines of credit and other financing arrangements, converting applications into contracts for servicing.
CL Loan™ is an end-to-end lending application that enables lenders to manage loans, lines of credit and other financing arrangements under one robust and secure platform. It manages portfolios, drives transaction volume and reduces time to market for new product development.
CL Collections™ is an advanced collections solution that enables lenders to define and automate their collection processes, streamline customer interaction across channels and reduce technical, operational and servicing costs.
CL Lease™ enables lessors to efficiently manage equipment lease throughout the life cycle of the equipment and manage assets, contracts, and customers seamlessly. It can be integrated with an existing origination platform or with the CL Originate platform.
CL Marketplace™ manage entire loan cycles from origination, loan grading & marketplace funding to fractional investing and payments. It automates investments across multiple borrowers on loan grade exposure limits.
Cloud Lending Solutions’ continued growth has been driven by increased demand among global lending companies in North America, Europe, and AsiaPacific. Building on this momentum, Cloud Lending Solutions will use the additional financing to continue expanding its global reach, to accelerate product growth and innovation, to invest in additional sales and marketing resources, and to evaluate strategic partnership opportunities.
“We have seen our business accelerate dramatically since our launch in 2012,” says Snehal Fulzele CEO of Cloud Lending Solutions. “Every day, more companies realize that the cloud computing model empowers the global lending community. Banks, Lessors, and AltFi institutions can grow their lending and leasing business leveraging digitization, resulting in rapid product delivery and increased operational and compliance efficiencies. This capital gives us additional resources to expand quickly and strategically into new markets, innovate rapidly, and deliver on our vision around the world.”
The Cloud Lending Solution product suite allows companies to configure their loan and lease practice using agile methodology, adapting product and lending workflows to customer requirements and complementing existing legacy systems. Cloud Lending Solution customers can create a transformative Omni-channel borrower experience that best fits the borrower’s needs, while simultaneously providing customers with transparency and visibility into all areas of the borrower’s loan lifecycle. Built for rapid deployments using SalesforceForce.com architecture, customers can be up and running in as little as eight weeks.
“As demonstrated by their remarkable growth and widespread adoption, Cloud Lending Solutions is clearly a market leader in the development and delivery of loan and leasing cloud-based software,” says Bobby Yazdani, Founder and Managing Partner of Cota Capital. “This investment will help Cloud Lending Solutions capitalize on the global demand for their solutions, and accelerate the company’s pace of product innovation. By every metric Cloud Lending Solutions’ platform is powering this evolution in borrower and lender experience and we are thrilled to extend our partnership as they continue to scale.”