NerdWallet has hired a group of investment banks, led by Morgan Stanley, to arrange the IPO and is aiming to go public before the end of 2021, sources said to Reuters. The US-based company could seek a valuation of as much as USD 5 billion. The sources cautioned that the timing of the IPO and the valuation are subject to market conditions and asked not to be identified because the preparations are confidential. NerdWallet and Morgan Stanley declined to comment.
A number of high-profile financial technology companies, such as Affirm Holdings have gone public in the last six months (until mid-May 2021), while others such as online brokerage Robinhood Markets, Brazil-based Nubank, and financial services startup Chime are preparing to do so lateri in 2021.
Founded in 2009, NerdWallet provides financial guidance to users on credit cards, loans, mortgages, and other financial products. It boasts more than 100 million users every year of its personal finance website and mobile phone app and counts venture capital firm IVF and SVB Financial Group among its investors.
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