Cloud Lending Solutions, a technology provider to marketplace lenders and other finance companies, has raised $8 Mn in Series A venture funding led by SF Capital Group.
Besides, Cota Capital and Long Light Capital also participated in this round along with current seed investors Green Visor and Epic Ventures.
With this investment, Neil Wolfson – president at SF Capital Group, will join Cloud Lending Solutions’ board of directors.
The raised funding will be used for market expansion and further development of the company’s engineering and innovation capabilities. “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,” said Snehal Fulzele, founder & CEO at Cloud Lending Solutions.
Few of Cloud Lending Solutions’ portfolio companies include Harmoney.com, Propel Financial Services and Encore Capital Group, who use Cloud Lending to drive down expenses and grow revenue through greater volume and new products.
Snehal added that the additional funding will help the company drive the growth and help them expand technology offering in current and new market segments like commercial real estate and SMB lending, which are trillion dollar industries ripe for disruption.