San Francisco based financial education and empowerment platform has raised an additional $5m of Series A financing from former Citigroup executive Simon Williams. Valuation on the round is at approximately $510m. This brings the total size of NerdWallet's Series A financing to $69m.
Where Chen is trying to set NerdWallet apart is in scope and transparency. The company now offers to provide "truth for all of life's financial decisions," and says the payments it gets from banks do not affect its reviews of their products. The website also has a fast-growing editorial staff, publishing articles and clear advice about the personal finance industry, which often makes it easy to feel deluged by fine print and jargon.