Envestnet | Yodlee Incubator Unveils New Class of Fintech Disruptors

PRNewswire 6-Dec-2018 9:00 AM

REDWOOD CITY, Calif., Dec. 6, 2018 /PRNewswire/ -- Envestnet | Yodlee (NYSE:ENV), a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services, today announced the members of the newest Envestnet | Yodlee Incubator class. An award winning program, the Envestnet | Yodlee Incubator connects disruptive data-driven startups with the mentorship, strategic guidance, and continuous guidance on all aspects of growing a business, while also providing free access to the leading Envestnet | Yodlee Data Platform. The success of the Envestnet | Yodlee Incubator can be seen in venture capital investments, with the 32 graduates across four cohorts raising $82 million in funding since graduating.

This year's cohort builds on the success of previous years and was selected from a record-breaking global application pool that includes startups in the burgeoning insuretech and healthtech categories, new sectors like customer loyalty programs, and established verticals such as wealth management and small business accounting. All members of the class share Envestnet | Yodlee's commitment to growing the fintech ecosystem and helping consumers improve their financial outcomes.

"We have the privilege of working with leading entrepreneurs from around the world to potentially change the landscape of the financial technology ecosystem," said Jeff Cain, Incubator Director at Envestnet | Yodlee. "Our portfolio of incubator companies collaborates with our business to drive innovation, developing cutting-edge technology across a variety of sectors that rely on financial data. We look forward to continuing to multiply those efforts for years to come."

The members of the 2019 Envestnet | Yodlee Incubator class are:

• Betterfin: a financial platform for small business owners to better manage financing and credit
• Class Action: makes it easy to find and collect your unclaimed class action payments.
• Hurry Home: replaces the traditional mortgage on low-priced homes, helping low and middle-income households build wealth through shared homeownership
• MyPerfectFinancialAdvisor: intends to be the premier matchmaker between investors or consumers and their perfect financial advisor
• Pensio: an insuretech startup helping to solve the U.S. retirement crisis with a modern annuity offering
• Productfy: offers a technology platform that enables fintech companies to build common features via a single API
• Rocket Dollar: lets people use their IRAs and old 401(k)s to invest in real estate, crypto, crowdfunding, startups, and other alternative investments
• Transaction Connect: SaaS based software platform allowing marketers to easily implement spending based loyalty programs
• Zinsur: a fintech lender providing credit and loans to help patients pay for costs not covered by insurance

Previous alumni of the Envestnet | Yodlee Incubator are already seeing considerable success in the industry, including:

• 2017 graduates Finch and Domuso raised seed rounds within months of graduating from the Envestnet | Yodlee Incubator
• SnapCheck was nominated by KPMG Digital Village as one of the top 20 most exciting and innovative startups from all over the world to address problems faced by the financial industry.
• From the 2018 class, Golden won AARP and Finovate 2018 awards, Peanut Butter won Plug & Play's best fintech startup award and Stessa was acquired by JLL.

To learn more about the Envestnet | Yodlee Incubator, visit https://www.yodlee.com/incubator.

About Envestnet
Envestnet, Inc. (NYSE:ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet's unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.

Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides retirement advisors with an integrated platform that combines leading practice management technology, research and due diligence, data aggregation, compliance tools, fiduciary solutions and intelligent managed account solutions.

More than 88,000 advisors and 3,500 companies including: 15 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisors, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.

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SOURCE Envestnet | Yodlee