NerdWallet, a credit card marketplace which doubles up as a personal financial management (PFM) tool, is powering on with its small acquisition spree this year.
Instead of continuing its UK expansion, the San Francisco-based start-up has gone back to its roots, acquiring Fundera, a New York-based small business loan comparison site.
The move sees NerdWallet attempt to carve out a stronger foothold in America’s small and medium-sized business (SMB) market…
The acquisition arrives just two months after NerdWallet acquired Know Your Money in the UK… Whilst its UK deal sees it buy a similar service to its own to gain a direct route into a new market, its acquisition of Fundera marks an expansion in terms of sector.
Competitors rivalling NerdWallet in the US include Intuit-acquired Credit Karma, which has around 100 million users, and Credit Sesame, which has around 15 million members.
[NerdWallet’s co-founder and CEO:] “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.”