Yodlee, the leading provider of online personal financial management (PFM) and integrated payments solutions has partnered with Y Combinator, a pioneer in investments to startup companies.
Together, the organizations are driving innovation in financial services by providing access to Yodlee's financial services platform for select Y Combinator funded start ups.
"Yodlee is committed to constant innovation in the financial services industry. Allowing third party developers to leverage our unique web platform and distribution capabilities will put innovative new products and services in the hands of financial institutions and the customers who need them at an even faster rate," stated Joseph Polverari, Chief Marketing & Strategy Officer, Yodlee. "Our relationship with Y Combinator will enable a new generation of entrepreneurs and developers to create products that will help people manage and relate to their money."
"We've noticed an increase in the number of startups applying for funding who are building products in the personal finance space and need reliable access to personal financial information," said Harj Taggar, Partner at Y Combinator. "The financial services space is becoming an exciting area for startups, which is probably a result of consumers becoming more comfortable with managing their finances online. We're excited about having Y Combinator work together with Yodlee to see what new kinds of innovative products can be built in this space."
With this partnership, companies in each Y Combinator funded class can securely access financial account and transaction data on behalf of consumers through Yodlee's platform. This gives companies the flexibility to build a working product, conduct a beta test, apply user feedback and establish a solid launch pad for obtaining later stage investors. Four Y-Combinator-funded companies: Indinero, WePay, FutureAdvisor, and ReadyForZero are already leveraging Yodlee's market-leading platform, a testament to the value of the platform for powering new innovation.