Nerdwallet IPO
We are pleased to announce that one of our investments, NerdWallet, the personal finance website founded in 2009, went public this month.
The company recorded $182 million in revenue in the first six months of 2021, representing YoY growth of 32%. NerdWallet generated $5 million in net income in 2020 and now has 21 million monthly unique users.
NerdWallet, co-founded in 2009 by former hedge fund executive Tim Chen and former J.P. Morgan trader Jake Gibson, provides financial guidance to users on credit cards, loans, mortgages and other financial products. Chen was inspired to create a company that simplified everyday financial decisions, when he couldn’t find the answer on the internet to his sister’s question about which credit card was the most suitable for an expatriate living in Australia.
“We’ve come a long way, but I believe we’re still in the early innings. We aim to become the most trusted name in personal finance” said co-founder and CEO Tim Chen.
