Cloud Lending Solutions, a San Mateo, CA-based lending solution built natively on salesforce.com, raised $8m in Series A venture capital funding.
The round was led by SF Capital Group, with participation from Cota Capital and Long Light Capital, as well as current seed investors Green Visor and Epic Ventures. In conjunction with the funding, Neil Wolfson, president at SF Capital Group, will join Cloud Lending Solutions’ board of directors.
The company intends to use the funds for market expansion and further development of its engineering and innovation capabilities.
Founded in 2012 and led by Snehal Fulzele, CEO, Cloud Lending Solutions provides a suite of SaaS applications to manage loan portfolios, increase transaction volume and rapidly bring new products to market.
The new funding is in addition to the $2m raised during their pre-series A round in 2014, bringing the total capital raised to $10m.