NerdWallet buys UK-based Know Your Money to accelerate international expansion

By Megha Bhattacharya

American personal finance solutions provider, NerdWallet has reportedly acquired UK-based comparison site Know Your Money, in a bid to expand its operations outside the US. The financial terms of the acquisition were not disclosed. Media reports stated that the acquisition will see Know Your Money become a NerdWallet subsidiary while retaining its current executives and employees.

Tim Chen, CEO, NerdWallet, said, “Recently, the volatility of the stock market, unemployment, and plunging interest rates have consumers facing financial challenges they’ve never dealt with before and searching for content and products to help them navigate their new normal. Because of this, there has never been a better time to expand the reach of our financial guidance and grow our business, and there is no better place to start than the UK.”

Founded in 2009 by Tim Chen and Jacob Gibson, NerdWallet is a personal finance company that offers a website and app that aims to assist users in making personal financial decisions.

With a 15-year history in the UK market, Know Your Money aims to help Brits find the best deals on things like loans, business bank accounts, and mortgages.

“We’re looking forward to joining forces with NerdWallet and building on the fantastic work our team has done helping consumers learn about, evaluate and compare financial products,” said Jason Tassie, Co-Founder Know Your Money with John Ellmore, in a statement. “Working with NerdWallet will help us accelerate our existing growth plans, expanding our content library, tools, and guides to offer users more support in financial decision making. Know Your Money and NerdWallet are perfectly aligned in their goal of empowering people to make better, more informed financial decisions.”