Envestnet agrees to sell Yodlee to private equity firm STG

The data aggregator Yodlee is changing hands from wealth management firm Envestnet to private equity firm STG.

Envestnet announced the sale of Yodlee to STG on Wednesday. The transaction is expected to close in the third quarter of 2025, according to a press release. Details of the transaction were not disclosed by the company.

Envestnet originally bought Yodlee for $660 million in cash in 2015. The wealth management platform provider plans to continue working with Yodlee as a partner, according to Envestnet CEO Chris Todd.

“Advisors will retain access to Yodlee data aggregation technology that helps power their business,” Todd said in a statement. “This transaction is the first step in our value creation plan as a private company and will allow Envestnet to focus more deeply on its core connected wealth management platform.”

Yodlee, a data aggregation platform that competes with Plaid, is used by some banks and financial institutions to pull customer account information into third party applications.

“Yodlee sits at the intersection of trusted data access and intelligent analytics,” said STG Managing Director Marc Bala. “It has built deep integrations across the financial ecosystem and earned the confidence of the world’s leading banks, asset managers and wealth platforms.”

JPMorganChase entered a data sharing agreement with Yodlee in late 2019, which at the time enabled JPMorgan customers to use more than 1,200 financial applications supported by Yodlee. Yodlee also has data access agreements with Capital One, TD Bank and Navy Federal Credit Union.

“Yodlee has been a trusted ally to financial institutions leading the industry’s evolution, including 16 of the top 20 US banks,” a Yodlee spokesperson told American Banker. “We anticipate Yodlee’s connectivity and services for financial institutions to expand under STG and will likely be able to share those details towards the transaction closing.”