Wednesday, August 8, 2018

Cloud Lending Acquired By Q2 Holdings

San Mateo-based Cloud Lending has been acquired by Austin-based e-banking software developer Q2 Holdings. Q2 is a developer of e-banking software, and Cloud Lending develops integrated end-to-end lending and leasing platform. Financial details of the buy were not announced. Q2 said the deal will help its community and regional financial institution customers more effectively manage and grow their lending portfolios. Cloud Lending was based in San Mateo, California, and was led by CEO Snehal Fulzele. Cloud Lending was venture backed by Cota Capital.