Anil Anora resigns from Envestnet board the same day as his new company gets backing at


The ex-CEO of Yodlee left his executive role at the Chicago outsourcer a while back but TIFIN is on an upswing

Anil Arora resigned as a director of Envestnet, effective Oct. 28, on the same day as his new company, TIFIN, had an exceptionally good news day.

“Anil’s knowledge of, and experience with, financial technology companies was a valuable resource to our board,” said Bill Crager, Envestnet CEO in a release. 

Anora, the former CEO of Yodlee — both before and after Envestnet bought it — gave his notice to the Chicago technology and product supermarket virtually as his new Boulder, Colo., company announced it had raised $45 million at a staggering $447 million valuation.

Bill Crager
Bill Crager: Anil Arora was a ‘valuable resource.’ 

He also leaves Envestnet at a high valuation, $4.55 billion as of the market’s close Friday with shares at $83.50, just a shade off their all-time high.

TIFIN’s major holding was 55ip, which it sold to JPMorgan in a quick-flip this past April that may have padded its account.

Arora is a senior partner and board member of TIFIN and he was very valuable to Envestnet during his time there, according to former fellow Envestnet board member, Chip Roame, managing principal of Tiburon Strategic Advisors.

“I think Anil added tons of value to the ENV board,” he says. “He was the board member that was the most data focused (core to ENV’s future) and the board member with the best sense of the broader FinTech market beyond just WealthTech (a market where Yodlee had deeper roots than ENV)…”

Growth software

Prior to its sale, Chicago-based Envestnet was Totum’s largest backer. It funded the company in 2015, soon after the Totum was founded, through its Yodlee incubator to the tune of $3.5 million in a “non-equity-based investment.”

Chip Roame
Chip Roame: ‘Anil added tons of value to the ENV board.’

A mix of broker-dealer reps, asset managers and RIA advisors already administer a cumulative $500 billion using TIFIN-owned software, which is “designed to grow, not run or manage an advisor’s business,” Tifin CEO Nair told RIABiz in April, via email.

Yodlee has been both the sizzle and the fizzle at Envestnet over the years since being acquired in 2015. The bad news is that it’s mostly operated in the red as a standalone unit.

Arora served as president and CEO of Yodlee, Inc. from February 2000 and became vice chairman and CEO of Envestnet | Yodlee in November 2015 when Yodlee was acquired by Envestnet.

Arora gave up his executive role effective March 1, 2019 but remained a director of Envestnet.


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