Published on August 14th, 2015 | by bitcoin0
FinTech Subsidiary Yodlee Sells to Envestnet for $590 Million
Envestnet, a major financial services provider, has bought financial software company Yodlee for about $590 million.
We have long admired Yodlee’s innovative solutions and are excited to bring the companies together,” Envestnet CEO, Jud Bergman, said in the press release.
Opened in California in 1999, Yodlee became a well-known company that enables financial institutions to aggregate consumer financial information.
Within the last few years, Yodlee has been working on developing a smaller financial data verification platform, named Yodlee Interactive.
The Wall Street Journal stated Yodlee sells data to research firms and investors, but the company denied that saying such data is completely anonymous.