Yodlee raises $35m funding

Yodlee raises $35m funding

Yodlee, a US provider of online bill payment and account aggregation technology, has raised $35 million in a financing round led by Bank of America.

Existing Yodlee investors, including its largest shareholder Warburg Pincus along with Accel Partners and Institutional Venture Partners also participated in the financing round.

Anil Arora, president and CEO of Yodlee, says Bank of America’s participation in the financing "is a significant vote of confidence in Yodlee and its growth plans".

Bank of America used Yodlee technology to launch an online account aggregation service in 2001.

California-based Yodlee says it will use the proceeds of the new funding to expand deployment capabilities of its BillPay software and services and accelerate sales of the technology.

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