The acquisition will help NerdWallet expand its options for financial guidance and financing options for SMB owners, giving it a bigger piece of the SMB market and “advancing its mission of providing clarity for all of life’s financial decisions,” according to the release.
NerdWallet has found it profitable to expand its portfolio of services, with additions of student loan services, investing, insurance and mortgages and more over the years, the release stated.
Fundera represents a foray into the SMB field, which has become pertinent due to its fast growth. One of the biggest challenges for SMBs is the lack of capital, with the pandemic’s economic downturn causing even more stress, the release stated. According to a recent survey, around 70 percent of U.S. SMBs applied for financial aid from the government’s Paycheck Protection Program (PPP).
“Although we offer free tools and content, we’ve never been able to fully support small business owners — that changes today,” said…
