Nerdwallet describes Know Your Money as the U.K.’s largest comparison site serving businesses. For some more context, Nerdwallet competes directly with companies like Credit Karma (which has 100 million users and was acquired by Intuit earlier this year for $7.1 billion), Credit Sesame (which last year estimated that it’s valued at around $1 billion), along with a number of other marketplaces that both provide advice and financial content, as well as cost comparison services to weigh up the relative costs of different offers for various financial products. Nerdwallet has also expanded significantly since that time, and currently makes more than $150 million annually in revenues. Investors include IVP, RRE Ventures, iGlobe Partners and Silicon Valley Bank. It hasn’t updated that number since, but has been profitable and has no plans to raise more funding for the moment.
It last raised money in 2015 - $100 million ($69 million in equity, and the rest in a credit note) - at a valuation of about $520 million. The deal underscores the quiet growth of the San Francisco-based startup, which now has 160 million users. and will spearhead the company’s efforts for further international expansion under international general manager Megan Tedford. Know Your Money will become Nerdwallet’s first operation outside of the U.S. The startup is acquiring Know Your Money, a Norwich-based startup that provides a similar range of comparison and information tools geared at people who live in the U.K.įinancial terms of the deal are not being disclosed, Nerdwallet said. Nerdwallet, which provides resources for people looking for a new credit card, loan, insurance or other financial product or just financial advice, is making a move today to spearhead a move into international markets.
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