NerdWallet, a San Francisco, CA-based consumer finance startup, raised $64m in Series A funding.
The round was led by Institutional Venture Partners (IVP) with participation from RRE Ventures, iGlobe Partners and additional angel investors including Arjan Schutte of Core Innovation Capital, Aaron Lee, Brian Lee, Dharmesh Thakker, Emilie Choi, Eric Bahn, Josh Tonderys, Mike Grishaver, Parker Barrile, Raymie Stata, Richard Jun, Ryan Roslansky, Scott Roberts, Shirshanka Das and Sumir Meghani. It is combined with a $33m flexible loan facility from Silicon Valley Bank. In conjunction with the funding, Jules Maltz, General Partner at IVP, and Tom Loverro, who led the investment on behalf of RRE Ventures, will join NerdWallet’s board of directors. Soo Boon Koh, founder and managing partner of iGlobe, will become a board observer. James D. Robinson III, former CEO of American Express; Vikram Pandit, former CEO of Citigroup; and David Henke, former senior vice president of Engineering and Operations at LinkedIn and Yahoo, will serve as board advisors.
Founded in 2009 by Tim Chen, CEO, NerdWallet provides tools, research and expert advice for consumers to navigate financial choices and provide transparency around all of their financial options.
In 2014, nearly 30 million consumers came to NerdWallet for selecting banking, credit card or insurance products, medical bills and student loans.
The company also connects consumers with a community of independent, vetted financial experts and medical billing specialists for personalized advice.
NerdWallet has more than 200 employees.