NerdWallet acquires Fundera

Personal finance website NerdWallet acquired Fundera , an online resource for small and medium-sized businesses. This will be NerdWallet’s second acquisition this year; following the acquisition of UK-based comparison site Know Your Money.

Founded in 2018, Fundera has raised $18.9 million and is a team of approximately 80 people, according to LinkedIn; all employees will be joining NerdWallet.

“We’ve always seen tremendous opportunity in providing small business owners with financial information and helping them compare and apply for the financial products that meet their unique needs. Although we offer free tools and content, we’ve never been able to fully support small business owners — that changes today. Fundera has been one of our partners for several years and their deep understanding of the SMB market, the long-standing, trusted relationships they’ve built with both lenders and business owners, and their commitment to putting the needs of small business owners first is really unique and impressive. We’re always looking to join forces with best-in-class companies that share our mission-driven, consumer-first perspective, and we’ve found that in Fundera. Together we will capitalize on the massive SMB market opportunity while driving great outcomes for small business owners.” – Tim Chen, Co-Founder and CEO of NerdWallet.

“It can be the wild wild west out there for small business owners. Finding the financial products and the guidance needed to start, grow and fund their businesses can be very challenging, and most small business owners don’t have a resource or partner to support them along their journey. Bringing transparency to this process and educating, empowering and advocating for business owners is so similar to what we see NerdWallet doing in the consumer space. We have always been inspired by how NerdWallet puts confidence and informed decision-making in the hands of consumers, and that’s what we do for small business owners. We’re excited to work with NerdWallet to continue helping business owners achieve their financial goals.” – Fundera CEO and founder Jared Hecht.

According to SimilarWeb, Fundera attracted 770k monthly website visitors in September.