Yodlee
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| Industry | Financial |
|---|---|
| Founded | 1999 |
| Founder | Venkat Rangan |
| Headquarters | Redwood City, California |
| Website | www |
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, Yodlee Labs (formerly Yodlee MoneyCenter), a free web application that helps consumers their finances online, provides features such as bill payment, expense tracking, and investment management (similar to personal finance services provided by Intuit's Quicken). 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 (including 5 of the top 10 U.S. banks) 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.
Yodlee was started since 1999 by Venkat Rangan (vice chancellor of Amrita University); Sam Inala, Ramakrishna "Schwark" Satyavolu, Srihari Sampath Kumar (all earlier at Microsoft); and Sukhinder Singh (earlier at Amazon.com and Junglee).
Yodlee started operations (and is headquartered) 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.
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