Yodlee Inc., a Redwood City, Calif.-based provider of an online financial services portal, announced that it has raised $35 million. Bank of America led the round, which our records indicate closed in June 2007. Return backers include Warburg Pincus, Accel Partners and Institutional Venture Partners.
Yodlee, Inc., today announced that Bank of America is the lead investor in Yodlee's recent $35 million financing. Existing Yodlee investors, including Warburg Pincus, Accel Partners and Institutional Venture Partners also participated in the financing.
“We're very bullish on Yodlee and its continued momentum with customers and partners,” said Pat Hackett, Managing Director, Warburg Pincus LLC, Yodlee's largest shareholder.
Yodlee plans to use the proceeds of the financing to further accelerate and scale its sales, deployment and operational infrastructure for the company's innovative online bill pay solutions and services.
“We think Bank of America's participation in this financing is a significant vote of confidence in Yodlee and its growth plans,” said Anil Arora, president and CEO, Yodlee.
Yodlee's innovative, patented online bill pay and personal finance management solutions can help any financial institution lower cost and generate new revenue now. Yodlee BillPay PayItAll