NerdWallet, which provides a personal finance app that promotes financial products, raised $131 million by offering 7.3 million shares at $18, the midpoint of the $17 to $19 range.
Based in San Francisco, NerdWallet provides a digital platform for individual consumers and SMBs with educational content, tools and calculators, product marketplaces, and the NerdWallet app. Its platform covers financial products including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing and student loans, first in the US and now in the UK and Canada. NerdWallet had an average of 20 million Monthly Unique Users per month in the first nine months of 2021.
NerdWallet plans to list on the Nasdaq under the symbol NRDS. Morgan Stanley, KeyBanc Capital Markets, BofA Securities, Barclays, and Citi acted as joint bookrunners on the deal.
