You get email in the cloud, you store your documents in the cloud, why not get a loan in the cloud? That’s the vision of Cloud Lending Solutions, as it touts itself as the only lending company in the world the operates 100% on the Salesforce platform.
Cloud Lending has just announced that it has received $8M in Series A funding from SF Capital Group. Other venture capitalist firms that participated in the funding were Green Visor and Epic Ventures. Neil Wolfson, of SF Capital, will join Cloud Lending on its board of directors as a result of the $8M investment.
Cloud Lending will use the money to continue building out infrastructure while investing in the technology around its core platform. Cloud Lending also mentions that part of the money will go to support additional growth, as the company’s cloud first stance on technology has raised the attention of potential customers.
“Over the past three years, we have continued to develop our solutions to meet our customers unique needs, acting with the same agility and speed as our technology affords their businesses,” says Snehal Fulzele, CEO, Cloud Lending Solutions.
“This additional funding is a further validation of our mission and we are excited to continue driving this growth as well as expand our technology offering in current and new market segments such as commercial real estate and SMB lending, which are trillion dollar industries ripe for disruption,” adds Fulzele.
Cloud Lending has raised a total of $10M in capital, with its pre Series A round of funding totaling $2M. Cloud Lending Solutions is a forward thinking organization that looks to streamline the process of getting a loan.
Investors say that Cloud Lending has grown over 300% in the past 12 months, taking on 75 clients in over 20 different countries. Cloud Lending represents the future of the loan business, as Cloud Lending Solutions could be the catalyst that drives the financial industry into a cloud first approach when engaging consumers for loans.