Source: ABN Amro
ABN AMRO has invested in the innovative FinTech company Cloud Lending Solutions Inc. (CLS).
This investment is the second by ABN AMRO’s Digital Impact Fund (DIF) and in line with its first investment in the Swedish FinTech Tink. The corporate venture capital fund DIF focuses on strategic investments in companies that facilitate the digital transformation for ABN AMRO and its clients.
Cloud Lending Solutions offers its clients a cloud-based lending platform enabling ABN AMRO to develop and go to market faster, with more user-friendly digital credit solutions for their retail and corporate clients. Not only does CLS’s cloud-based technology speed up the credit process, but it also makes it more relevant and efficient for clients and the bank. These innovations enhance the total, ongoing client experience.
“Our investment in Cloud Lending Solutions meets the criteria of the ABN AMRO’s Digital Impact Fund: CLS has a strong management team, a broad and innovative product portfolio, and a proven track record,” says Hugo Bongers, Director of the Digital Impact Fund. “With Cloud Lending Solutions robust worldwide growth, they will be able to utilize our investment to further their global expansion. We look forward to our strategic cooperation with the CLS team and its shareholders and to joining the company’s broad ecosystem. Lending is an important theme for the Digital Impact Fund and this investment is in keeping with its strategy.”
“We are excited for the long-term support of ABN AMRO’s Digital Impact Fund with this investment,” says Snehal Fulzele, CEO of Cloud Lending Solutions. “We look forward to working with DIF to deepen our global footprint and broaden our lending impact.”
About Cloud Lending Solutions
Cloud Lending Solutions, a leading global cloud-based financial services technology company, empowers the global lending community to connect with their borrowers by transforming the borrower and lender experience. Built on Salesforce, the worlds #1 CRM, Cloud Lending Solutions is the lending industry’s only end-to-end loan and leasing software specifically designed to simplify and digitize the entire lending process; from origination, underwriting, servicing, to collections, creating a single system of record within lending operations. With offices in San Mateo, London, Sydney and Bangalore, clients include banks, credit unions, traditional finance companies, online lenders, and marketplace platforms.