Cloud Lending

Cloud Lending Solutions, established in 2012 by co-founders Snehal Fulzele and Darpan Saini, provides a cloud-native lending and leasing platform for financial institutions. Fulzele, who served as CEO, brought a technical background to the venture with a Master's degree in Computer Software Engineering from Carnegie Mellon University and prior experience as a software engineer at Adobe and Oracle. This foundation in technology and finance shaped the company's direction. The firm’s core business revolves around a Software as a Service (SaaS) model, offering an end-to-end platform that digitizes the entire lending lifecycle.

The company's platform is built natively on Salesforce, providing a single system for managing origination, underwriting, servicing, collections, and reporting. This integration allows financial institutions—including banks, credit unions, alternative finance companies, and equipment lessors—to streamline operations, reduce manual processes, and accelerate loan decision-making. The product suite is modular, enabling clients to use the components independently or as a complete solution. Key products include CL Originate™ for underwriting, CL Loan™ for servicing, CL Lease™ for equipment finance, CL Collections™ for managing overdue payments, and CL Portal™, a customizable front-end for borrowers. This structure allows clients to manage diverse asset classes such as consumer, commercial, and small business loans.

A significant milestone in the company's history was its acquisition by Q2 Holdings, Inc. (NYSE: QTWO) in August 2018. This transaction was intended to merge Cloud Lending's agile platform with Q2's extensive digital banking solutions, aiming to help regional and community financial institutions better manage and expand their lending portfolios. Prior to the acquisition, Cloud Lending had successfully raised over $16 million in funding from investors including Cota Capital, SF Capital Group, and ABN AMRO's Digital Impact Fund, which supported its global expansion. Post-acquisition, the platform, now known as Q2 Cloud Lending, continues to operate by empowering lenders to enhance efficiency and offer a more transparent borrowing experience.

Keywords: digital lending, loan origination, cloud lending, loan servicing, SaaS, financial technology, leasing platform, underwriting automation, collections management, Q2 Holdings, Salesforce platform, alternative finance, credit unions, banking technology, equipment leasing, loan management system, end-to-end lending, Snehal Fulzele, portfolio management, commercial lending