Cloud Lending Solutions closed its latest financing round led by Cota Capital, with all existing investors participating. The proceeds will be used to continue its global expansion and to further develop its lending platform.

Cloud Lending Solutions was founded in 2012 and is a cloud-based, end-to-end loan and leasing platform built natively on Salesforce. Cloud Lending Solutions has more than 2,800 lending users in more than 23 countries, who use its products to run all, or part of, their origination, underwriting, servicing and collections lending operations.

Among the platforms the company offers is CL Lease, which enables lessors to efficiently manage equipment lease throughout the life cycle of the equipment and manage assets, contracts and customers seamlessly. It can be integrated with an existing origination platform or with the CL Originate platform.

Cloud Lending Solutions’ continued growth has been driven by increased demand among global lending companies in North America, Europe and AsiaPacific. Building on this momentum, Cloud Lending Solutions will use the additional financing to continue expanding its global reach, to accelerate product growth and innovation, to invest in additional sales and marketing resources and to evaluate strategic partnership opportunities.

“We have seen our business accelerate dramatically since our launch in 2012,” said Snehal Fulzele, CEO of Cloud Lending Solutions. “Every day, more companies realize that the cloud computing model empowers the global lending community. Banks, Lessors and AltFi institutions can grow their lending and leasing business leveraging digitization, resulting in rapid product delivery and increased operational and compliance efficiencies. This capital gives us additional resources to expand quickly and strategically into new markets, innovate rapidly and deliver on our vision around the world.”