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NerdWallet, Inc.
Nerdwallet Horizontal Logo.svg
Type of businessPublic company
Traded as(Class A)
FoundedAugust 2009; 12 years ago (2009-08)
HeadquartersSan Francisco, California, U.S.
Created byTim Chen
Jacob Gibson
Key peopleTim Chen (CEO; Co-founder)
IndustryPersonal finance, fintech
RevenueIncrease US$379.6 million (2021)[1]
Operating incomeDecrease US$-39.0 million (2021)[1]
Net incomeDecrease US$-42.5 million (2021)[1]
Total assetsIncrease US$364.1 million (2021)[1]
Total equityIncrease US$257.6 million (2021)[1]
Employees675 (December 2021)[1]

NerdWallet is an American personal finance company, founded in 2009 by Tim Chen and Jacob Gibson. It offers a website and app that earns money by promoting financial products to its users.


NerdWallet was founded in August 2009 by Tim Chen and Jacob Gibson, with an initial capital investment of $800.[2][3] Its first product was a web application that provided comparative information about credit cards.[4] Subsequently, it generated large quantities of content to help boost its search engine results.[5][6] Website traffic grew quickly in 2010[7] and, by March 2014, the website had up to 30 million users.[4] The following year, it raised $64 million in its first round of funding, at an estimated valuation of $500 million.[2][4][8]

In 2016, the company acquired the retirement planning firm AboutLife, and was valued at $520 million.[7][9][10] In 2017, company growth slowed, resulting in the layoff of 11 percent of its employees.[11]

In August 2020, the company expanded its footprint into the UK by 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 UK[12] In November 2020, NerdWallet acquired small business loan marketplace, Fundera.[13] In 2021, NerdWallet partnered with Inclusiv, a nonprofit network of community development credit unions, and committed to move millions of dollars to local credit unions to advance financial equity.[14] In November 2021, the company went public on the Nasdaq stock exchange.[15]

Products and services[edit]

The company's goal is to provide information that educates users in making financial decisions.[16] They do so by providing both reviews and comparison of different financial products, including credit cards, banking, investing, loans and insurance.[17] Its web site is directed primarily towards Millennials[4] and provides information on credit card selection and benefits, college loans, banking, mortgage loans, stock trading and insurance policies.[16][18]

By May 2015, the company developed business relationships with eight banks and a dozen insurance companies.[16] In exchange for new customers, affiliated banks pay NerdWallet a success fee.[4] Co-founder Chen reported that the company became profitable by virtue of the fees it earned through matching users with financial products and services.[8]


Tim Chen is the CEO and co-founder of NerdWallet and board member at the National Foundation for Credit Counseling.[10][19] The company's "transparent" and "self-critical" management style was reset in 2013, when Chen fired 20% of the workforce and restructured company management into a flatter "matrix" structure.[5]

In March 2014, former LinkedIn VP Dan Yoo replaced co-founder Gibson as chief operating officer and Flo Thinh joined as VP of Talent.[20] By 2015, the company had 200 employees and added Vikram Pandit and James D. Robinson III to its board of advisors.[18][21]

In 2020, former eBay executive Lauren St. Clair joined NerdWallet as CFO. The company added Lynne Laube and Jennifer Ceran to its board of directors.[22]

See also[edit]


  1. ^ a b c d e f "NerdWallet Full Year 2021 Results". U.S. Securities and Exchange Commission. 24 February 2022. Retrieved 18 March 2022.
  2. ^ a b Shieber, Johnathan (May 11, 2015). "Scorching FinTech Market Keeps Attracting New Players as NerdWallet Raises $64 Million". Tech Crunch.
  3. ^ Saranow Schultz, Jennifer (August 25, 2010). "A New Way to Shop for Credit Cards". Bucks Blog. The New York Times. Archived from the original on 27 August 2010. Retrieved 7 January 2014.
  4. ^ a b c d e Tansey, Bernadette (21 May 2015). "NerdWallet's Big Ambitions". Xconomy. Retrieved June 28, 2015.
  5. ^ a b Aspan, Maria (February 2016). "The $520 Million Company That's Solving All Your Financial Needs". Inc.
  6. ^ Rose, Jeff (April 20, 2010). "Interview with Tim Chen, Founder of NerdWallet". Good Financial Cents. Archived from the original on 23 April 2010.
  7. ^ a b Huddleston, Tom Jr. (May 9, 2018). "After being laid off, this 35-year-old founded NerdWallet with $800 - now it's worth $500 million". CNBC. Retrieved August 18, 2018.
  8. ^ a b McBride, Sarah (May 11, 2015). "UPDATE 1-Startup NerdWallet raises $64 million in first round of funding". Reuters. Retrieved 30 June 2021.
  9. ^ Yeung, Ken (June 28, 2016). "NerdWallet acquires AboutLife to expand into retirement planning services". VentureBeat. Retrieved August 18, 2018.
  10. ^ a b Aspan, Maria (January 20, 2016). "The $520 Million Company That's Solving All Your Financial Needs". Inc. Retrieved August 18, 2018.
  11. ^ Dickey, Megan Rose (November 16, 2017). "NerdWallet lays off 11 percent of staff due to missing profitability goals". TechCrunch. Retrieved November 18, 2018.
  12. ^ Lunden, Ingrid (August 27, 2020). "Nerdwallet acquires UK's Know Your Money as it expands outside the US". TechCrunch. Retrieved 27 April 2021.
  13. ^ Ha, Anthony (November 2, 202). "NerdWallet acquires small business loan marketplace Fundera". TechCrunch. Retrieved 27 April 2021.
  14. ^ Peters, Adele (March 9, 2021). "Nerdwallet is moving millions of dollars to local credit unions". Fast Company. Retrieved 27 April 2021.
  15. ^ "Personal finance firm NerdWallet valued at $1.5 bln in strong market debut". Reuters. 4 November 2021.
  16. ^ a b c Hall, Gina (May 12, 2015). "Financial Advising startup NerdWallet Raised $64 Million in Series A". Silicon Valley Business Journal. Retrieved June 30, 2015.
  17. ^ CreditLoan Team (February 27, 2019). "Everything You Need to Know About NerdWallet". Credit Loan. Retrieved 2019-08-07.
  18. ^ a b Shieber, Jonathan (May 11, 2015). "Scorching FinTech Market". Tech Crunch. Retrieved June 28, 2015.
  19. ^ Ryssdal, Kai; Purser, Bennett (September 19, 2018). "NerdWallet wants to help you with finance". Marketplace. Retrieved December 6, 2018.
  20. ^ Ha, Anthony (24 March 2014). "Former LinkedIn VP Dan Yoo Joins NerdWallet as COO". TechCrunch. Retrieved 25 March 2014.
  21. ^ Halloran, Michael (May 15, 2015). "NerdWallet Gets $64 Million on Road to $1 Billion Valuation as Money Pours into Fintech". TheStreet. Retrieved June 30, 2015.
  22. ^ Thier, Jane (December 17, 2020). "NerdWallet taps eBay CFO". CFO Dive. Retrieved 27 April 2021.

External links[edit]