NerdWallet, a website and app that provides financial guidance for consumers, acquired Fundera, a financial resource for small and medium-sized businesses.
The amount of the deal was not disclosed.
Fundera will become a NerdWallet subsidiary and all of its employees will be joining NerdWallet. Through this acquisition, the company will expand its financial guidance and financing options for small business owners. This will be NerdWallet’s second acquisition of 2020 having recently acquired Know Your Money, a U.K.-based comparison site to accelerate its international expansion efforts.
Led by Tim Chen, Co-Founder and CEO, NerdWallet is a personal finance website and app, which provides consumers with personalized and actionable insights. During the past several years, the company has expanded its financial content and marketplaces to cover a variety of categories, including student loans, investing, insurance, mortgages and more.
Co-founded in 2013 by Jared Hecht, Andres Moran and Rohan Deshpande, Fundera is an online marketplace that connects small business owners with the best funding providers for their businesses. It provides product marketplaces, which cover everything from loans to legal services, free financial content and one-on-one access to experienced lending specialists.