Dutch banking group ABN AMRO has invested in Cloud Lending Solutions (CLS), a cloud-based fintech firm with offices in San Mateo, London, Sydney and Bangalore.
The banking group did not reveal the size of the investment.
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CLS said that its cloud-based lending platform will support the development of ABN AMRO and accelerate the go to market process with more digital credit solutions for the bank’s retail and corporate clients.
The latest investment is the second made by Digital Impact Fund- the bank’s corporate venture capital fund that is used to make strategic investments in firms.
Digital Impact Fund director Hugo Bongers said: “CLS has a strong management team, a broad and innovative product portfolio, and a proven track record.
“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.”
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By GlobalData
