back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

NerdWallet acquires Fundera, helping SMB owners achieve financial goals

By Pavithra R

November 02, 2020

  • Nerdwallet
  • USA
Share

NerdWallet, an online personal finance website and app that provides financial guidance to more than 160 mn consumers every year has announced the acquisition of Fundera, the go-to financial resource for the 28 mn small and medium-sized businesses (SMBs) operating in the U.S.

Through the acquisition, NerdWallet expects to expand its financial guidance and financing options for SMB owners, thereby establishing a stronger foothold in the SMB market and advancing its mission of providing clarity for all of life’s financial decisions. The acquisition is NerdWallet’s second acquisition in the year, the company recently acquired Know Your Money.

NerdWallet has built a profitable and growing business, due in large part to its diversification efforts. The company has expanded its financial content and marketplaces in the past years to cover a variety of categories, including investing, insurance, mortgages, student loans, and more. The acquisition will continue growing and diversifying its business by expanding its offerings to the SMB market, which represents major growth potential for both the companies.

“We’ve always seen tremendous opportunity in providing small business owners with financial information and helping them compare and apply for the financial products that meet their unique needs. Although we offer free tools and content, we’ve never been able to fully support small business owners — that changes today. Fundera has been one of our partners for several years and their deep understanding of the SMB market, the long-standing, trusted relationships they’ve built with both lenders and business owners, and their commitment to putting the needs of small business owners first is really unique and impressive. We’re always looking to join forces with best-in-class companies that share our mission-driven, consumer-first perspective, and we’ve found that in Fundera. Together we will capitalize on the massive SMB market opportunity while driving great outcomes for small business owners.,” said Tim Chen, Co-Founder and CEO of NerdWallet.

The COVID-19 economic downturn has resulted in an extensive financial strain on SMBs. Founded in 2013, Fundera is a marketplace for small business financial solutions. Its in-depth knowledge of the SMB industry and commitment to providing business owners with suitable and innovative financing options makes it an ideal partner for NerdWallet as it expands into this growing market.

“It can be the wild wild west out there for small business owners. Finding the financial products and the guidance needed to start, grow and fund their businesses can be very challenging, and most small business owners don’t have a resource or partner to support them along their journey. Bringing transparency to this process and educating, empowering and advocating for business owners is so similar to what we see NerdWallet doing in the consumer space. We have always been inspired by how NerdWallet puts confidence and informed decision-making in the hands of consumers, and that’s what we do for small business owners. We’re excited to work with NerdWallet to continue helping business owners achieve their financial goals,” said Hecht.

Previous Article

November 02, 2020

UFCU launches E Cash, short-term loans powered by QCash Financial

Read More
Next Article

November 02, 2020

Visa partners with DigitSecure and HDFC Bank for Tap to Phone solution

Read More










IBSi Daily News Analysis

The Weekly Wrap

October 07, 2022

Nerdwallet

The Weekly Wrap: all you need to know by Friday COB | Oct 7th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

7 FinTech tweets you should see!

Read More

Today

Kotak Mahindra Bank partners with Finastra for Kotak FYN

Read More

Today

PENG partners with Ecospend to benefit its small business customers with open banking services

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022