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 MoneyCenter, a free web application that helps consumers manage 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.[1]
As of 2011, Yodlee has over 30 million users, and over 150 financial institutions and portals (including 5 of the top 10 U.S. banks) offer services powered by Yodlee.[2] [3] 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. [4]
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Yodlee was started in 1999 by Venkat Rangan (a professor at the University of California, San Diego); Sam Inala, Ramakrishna "Schwark" Satyavolu, Srihari Sampath Kumar (all earlier at Microsoft); Sukhinder Singh (earlier at Amazon.com and Junglee); and P Sreeranga Rajan (a researcher at Fujitsu Labs and at that time also a researcher at Stanford Research Institute).[5]
Yodlee started operations (and is headquartered) in Redwood Shores, CA in the United States. It also has offices in the United Kingdom, and in Bangalore, India.
By 2010 Yodlee was said to have raised at least $116 million over its 10-year lifespan.[6] 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 also participated in the financing round.[7]