NerdWallet, which provides a personal finance app that promotes financial products, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
NerdWallet provides a digital platform for individual consumers and SMBs that it believes democratizes access to trustworthy financial guidance. The company delivers guidance through educational content, tools and calculators, product marketplaces, and the NerdWallet app. Its platform delivers unique value across financial products including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing and student loans, and has grown to include the UK and Canada. NerdWallet had an average of 16 million Monthly Unique Users per month in 2020, and 21 million per month in the 1H21.
The San Francisco, CA-based company was founded in 2009 and booked $290 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol NRDS. NerdWallet filed confidentially on May 3, 2021. Morgan Stanley, KeyBanc Capital Markets, BofA Securities, Barclays, and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
