Yodlee secures $24 million financing

Yodlee secures $24 million financing

Account aggregation vendor Yodlee has secured $20 million in funding from new investor Warburg Pincus and an additional $4 million from Aceel Partners, which first invested in the company in 1999.

Yodlee says it will use the additional capital to enhance its current technology, develop new solutions, grow its international operations, and accelerate its advisor and wealth management initiatives.

Stewart Gross, a Warburg Pincus senior managing director, noted that Yodlee is the established market leader in the account aggregation sector.

"We believe that Yodlee's technology has many applications beyond the company's core offering," Gross says. "We are seeing significant market demand for additional applications utilising Yodlee's current technology - including CRM tools, transactions, advisor solutions, data integration and security - that will generate quantifiable ROI for Yodlee's clients."

Yodlee currently claims 140 clients and three million users worldwide.

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