IBSI Announces Subscription Flexibility !

IBS Journal now starts at £9 per issue, and custom Reports at 40% off
READ MORE

Q2 Holdings has announced an agreement to acquire Cloud Lending, a privately-held SaaS company that provides an integrated end-to-end lending and leasing platform.

“By acquiring Cloud Lending, we will be able to help our community and regional financial institutions more effectively manage and grow their lending portfolios—their fundamental income-generating activity,” said Matt Flake, CEO of Q2. “There’s a substantial market opportunity for digital lending, and the addition of Cloud Lending’s talented team and next-generation technology solutions will help Q2 expand our footprint in existing markets, as well as enter new ones.”

“The inspiration for Cloud Lending came from our first-hand experience with the impact credit can make in the life of an individual or business,” said Snehal Fulzele, CEO of Cloud Lending, Inc. “This partnership means more lenders will provide greater access to credit for more people and businesses across the globe. Cloud Lending’s team members are excited to partner with Q2 and to continue delivering on our proven track record of innovation in digital lending and leasing.”

The transaction has been approved by the boards of directors of both Q2 and Cloud Lending. Consummation of the proposed transaction is subject to customary closing conditions. The closing of the transaction is expected to occur in the fourth quarter 2018.

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
imp-loader
preloader