Yodlee is an American software company that develops an account aggregation service that allows users to see their credit card, bank, investment, email, travel reward accounts, etc. on one screen. In addition, Money by Envestnet Yodlee, a free web application that helps consumers with their finances online, provides features such as bill payment, expense tracking, and investment management. Yodlee's Privacy Policy FAQ references Yodlee as a licensee of the TRUSTe Privacy Program. Part of Yodlee's business model consists of selling its customer's financial transaction data to investors. In August 2015, Envestnet acquired Yodlee. As of 2013, Yodlee has over 45 million users, and over 150 financial institutions and portals offer services powered by Yodlee. Yodlee's aggregation engine powers several applications for partners, including websites like Money Dashboard, MoneyStrand, Thrive, and several large banks and financial institutions. In 2010, Yodlee partnered with Y Combinator, providing its financial services platforms to all Y Combinator-funded companies.
Origins and history
Yodlee was started in 1999 by Venkat Rangan, Sam Inala, Ramakrishna "Schwark" Satyavolu, Srihari Sampath Kumar, and Sukhinder Singh. Yodlee started operations in Redwood Shores, California. It also has offices in London, UK, and Bangalore, India. In 2000, Yodlee merged with its main competitor in the data aggregation space, an Atlanta-based company called VerticalOne, which was owned at the time by SecurityFirst, an internet banking firm. By 2010 Yodlee was said to have raised at least $116 million over its 10-year lifespan. In a press release in June 2008, it was announced that Bank of America led a $35 million financing and existing Yodlee investors, including its largest shareholder Warburg Pincus along with Accel Partners and Institutional Venture Partners participated in the financing round. On October 3, 2014, Yodlee went public on NASDAQ, trading under the symbol YDLE. It raised $75 million at $12/share. On August 10, 2015 Yodlee sold itself to Envestnet for a reported $660 Million. As a result, it is no longer listed on the NASDAQ. In November 2017 Token partnered with Yodlee for payments and financial data aggregation.
