XpenseWise Secures Investment from America Online

XpenseWise.com, a cutting-edge online marketing platform for consumer service organizations, has announced a strategic investment from America Online, Inc. This significant milestone comes on the heels of XpenseWise's initial round of funding, led by TD iCapital, a venture fund sponsored by TD Capital and financial services giant TD Waterhouse, along with Washington Mutual, Reliant Energy, and Staenberg Venture Partners. By partnering with America Online, XpenseWise will be able to expand its reach and deliver innovative household planning methods to AOL's 24 million users.

Key Takeaways:

• XpenseWise enables consumer service organizations, including Internet Service Providers (ISPs) and financial institutions, to efficiently and effectively cross-sell preferred products to their online customers.
• The platform analyzes bills of consumers who use Electronic Bill Presentment and Payment (EBPP) to help them save money by finding better values on household service plans.
• XpenseWise will allow consumers to switch online to better value service providers for recurring monthly expenses, including long distance, auto loans, cell phone, mortgage, credit card, insurance services, and others.
• The investment from America Online will support XpenseWise's growth and expansion, leveraging AOL's vast user base to deliver its unique household planning methods.
• XpenseWise is a voluntary service that does not sell individual member data, employing state-of-the-art security to protect financial transactions and personal information.

Statistics:

• XpenseWise has secured an investment from America Online, Inc. (NYSE:AOL).
• The platform has received an initial round of funding from TD iCapital, TD Capital, TD Waterhouse (NYSE:TWE), Washington Mutual (NYSE:WM), Reliant Energy (NYSE:REI), and Staenberg Venture Partners.
• XpenseWise has 24 million potential users through its partnership with America Online.
• The platform analyzes bills of consumers who use Electronic Bill Presentment and Payment (EBPP) to help them save money.
• XpenseWise will allow consumers to switch online to better value service providers for recurring monthly expenses.

Sources:

• Business Wire, "XpenseWise.com Announces Investment from America Online," October 2, 2000.
• XpenseWise.com, "About XpenseWise," accessed October 2, 2000.
• America Online, Inc., "About America Online," accessed October 2, 2000.