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Envestnet Inc. is exploring the sale of Yodlee, a data-aggregation agency that it purchased in 2015, based on folks with information of the matter.
The software program firm, based mostly in Berwyn, Pennsylvania, just lately tapped an advisor to assist solicit curiosity from potential patrons in Yodlee, for which it paid about $590 million, together with debt, in 2015.
It couldn’t instantly be realized how a lot Envestnet is seeking to acquire for the divestiture.
Yodlee gives “an actual laborious have a look at the each day monetary lives of tens of millions and tens of millions of individuals, and then you definitely perceive their monetary plans — the place they’re going sooner or later,” Envestnet Chief Government Officer Invoice Crager mentioned in a November presentation. “While you join these two issues, you possibly can create holistic, very knowledgeable, very clever recommendation.”
Crager mentioned Yodlee additionally serves the financial institution and fintech markets, noting that the platform helps hedge funds perceive the retail conduct of shoppers. In one other presentation a yr earlier, Crager mentioned Yodlee helps digest the spending and incomes patterns of 40 million people.
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