World News – GB – NerdWallet acquires Fundera, the go-to resource for small businesses

SAN FRANCISCO, Oct. 30, 2020 / PRNewswire / – NerdWallet ™, a website and app that provides financial advice to over 160 million consumers each year, has acquired Fundera, the financial resource of Benchmark for the 28 Million Small and Medium-Sized Businesses (SMBs) Operating in the United States With this acquisition NerdWallet will expand its financial directions and financing options for small business owners, establishing a stronger position in the SMB market and advancing its mission to clarify all financial decisions of life This will be NerdWallet’s second acquisition in 2020; the company recently acquired Know Your Money, a comparison UKsite to fuel its international expansion efforts

NerdWallet has built a profitable and growing business, in large part due to its diversification efforts Over the past few years, NerdWallet has broadened its financial content and markets to cover a variety of categories including student loans, investing, insurance, mortgages and more With the acquisition of Fundera, NerdWallet will continue to diversify and develop its activities by extending its offerings to the fast growing SME market, which represents significant growth potential for both companies.

“We have always seen huge opportunities in providing small business owners with financial information and helping them compare and request the financial products that meet their unique needs,” said Tim Chen, co-founder and CEO of NerdWallet “Even though we offer free tools and content, we have never been able to fully support small business owners – this is changing today Fundera has been a partner of our business for several years and their deep understanding of the SME market, the long-standing trusting relationships they have forged with lenders and business owners, and their commitment to putting the needs of small business owners first is truly unique and impressive We are always looking to join forces with best-in-class companies who share our mission-oriented and consumer-driven perspective. Ator first, and we have seen this at Fundera Ensemble, we will capitalize on the huge opportunity in the SME market while delivering great results for small business owners »

Lack of capital is regularly cited as the biggest challenge facing small business owners and the economic downturn has put even greater financial pressure on SMEs A recent survey found that about 70% of US small businesses attempted to apply for an emergency loan under the CARES Act’s $ 349 billion paycheck protection program

Fundera’s in-depth knowledge of the SME sector and dedication to providing business owners with fair and innovative financing options make them an ideal partner as NerdWallet expands into this growing market The vast product markets of Fundera, which covers everything from loans and legal services, to free financial content and one-on-one access to experienced lending specialists, have helped over 85,000 SMEs obtain the best financial products. The company’s commitment to educating and empowering small business owners with financial information, as well as the resources it offers to help business owners overcome challenges such as the coronavirus outbreak, emphasizes its unique mission-driven approach in a market that lacks accountability and transparency

As a serial entrepreneur himself, CEO and Founder of Fundera, Jared Hecht, understands the unique challenges entrepreneurs face, especially when it comes to accessing necessary capital. Prior to founding Fundera, Hecht co-founded, developed and sold the GroupMe mobile group messaging app to Microsoft

“This can be the Wild West for small business owners,” Hecht said. “Finding the financial products and advice needed to start, grow and finance their business can be very difficult, and most business owners small businesses have no resources or partners to support them throughout their journey Bringing transparency to this process and educating, empowering and defending business owners is so similar to what we see NerdWallet doing in the consumer space. We’ve always been inspired by how NerdWallet puts trust and informed decision making in the hands of consumers, and that’s what we do for small business owners. We are excited to be working with NerdWallet to continue to help business owners achieve their financial goals « 

Fundera will become a subsidiary of NerdWallet and all Fundera employees will join NerdWallet

NerdWallet is on a Mission to Clarify All of Life’s Financial Decisions As a personal finance website and app, NerdWallet provides consumers with personalized, unbiased and actionable information so they can make smart money moves From finding the best credit card to buying a home, NerdWallet is here to help consumers make confident financial decisions. Consumers have free access to our expert content and comparison markets, as well as a data-driven membership experience, which helps them stay on top of their finances and save time and money, giving the freedom to do more For more information visit NerdWalletcom

« NerdWallet » is a trademark of NerdWallet Inc All rights reserved Other names and trademarks used in this document may be trademarks of their respective owners

Fundera is the most trusted online marketplace that connects small business owners with the best providers of finance for their businesses Fundera was co-founded in 2013 by GroupMe co-founder Jared Hecht, the tech entrepreneur Andres Moran and software entrepreneur Rohan Deshpande to bring transparency, accountability and fairness to the online lending industry

Media contact: Keely Spillane, kspillane @ nerdwalletcom

NerdWallet, small business, finance