Total amount raised
$105 Millions
Latest funding date
5/1/2021
Location
NerdWallet has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of financial tools and resources to help users make informed decisions.
Keep reading to explore the intricacies of NerdWallet's fundraising journey and the investors backing this innovative platform.
What Is NerdWallet?
NerdWallet, founded in 2009, is a financial services company based in San Francisco, California. The platform offers a variety of tools and resources to help users make informed financial decisions.
Founded by Tim Chen and Jacob Gibson, NerdWallet provides comparisons of financial products, personalized recommendations, and educational resources across categories like credit cards, banking, loans, and insurance.
With a dedicated team, NerdWallet continues to grow, offering valuable insights and tools to its users.
How Much Funding Has NerdWallet Raised?
- Series A
- Amount Raised: $5M
- Date: October 2015
- Lead Investors: Camelot Financial Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance financial tools.
- Series A
- Amount Raised: $64M
- Date: May 2015
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To transform the personal finance industry by providing clarity and transparency to consumer finance decisions.
- Debt Financing
- Amount Raised: $36M
- Date: May 2015
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide financial flexibility for growth and development.
- Series A
- Amount Raised: Not publicly disclosed
- Date: January 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and development.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
Total Amount Raised: $105M
Current Valuation: Not publicly disclosed
Key Investors
- Institutional Venture Partners (IVP)
- Details: IVP is a premier later-stage venture capital and growth equity firm with $5.4 billion of committed capital. They have invested in over 300 companies, with 101 going public.
- Investment Focus Areas: Venture growth investments, industry rollups, founder liquidity transactions, select public market investments.
- Notable Investments: Twitter, Snapchat, Dropbox.
- RRE Ventures
- Details: RRE Ventures is an early-stage venture capital firm based in New York City. They focus on partnering with entrepreneurs who seek to disrupt and transform industries.
- Investment Focus Areas: Technology, financial services, disruptive industries.
- Notable Investments: BuzzFeed, Venmo, Bitly.
- iGlobe Partners
- Details: iGlobe Partners is a leading Asia Pacific venture capital firm with a multicultural team. They are headquartered in Singapore, with a presence in Silicon Valley, Shanghai, and Auckland.
- Investment Focus Areas: Technology, cross-border expertise, scaling businesses globally.
- Notable Investments: Not publicly disclosed.
- Silicon Valley Bank
- Details: Silicon Valley Bank provides targeted financial services and expertise to innovative companies and their investors. They focus on moving bold ideas forward quickly.
- Investment Focus Areas: Financial services for innovative companies and their investors.
- Notable Investments: Not publicly disclosed.
What's Next for NerdWallet?
NerdWallet stands at the cusp of a transformative era in personal finance. With a mission to provide clarity and transparency, the company is poised to capitalize on the growing demand for unbiased financial advice. The personal finance market, a multibillion-dollar industry, offers vast opportunities for NerdWallet to expand its user base and enhance its suite of financial tools.
Future fundraising appears promising, given the strong investor interest demonstrated in previous rounds. As NerdWallet continues to grow, additional venture capital rounds and strategic partnerships with major financial institutions could be on the horizon. However, the path forward is not without challenges. Competition from other fintech startups and traditional financial institutions, along with the need to maintain profitability while scaling, will test NerdWallet's resilience.
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