Fundera Sold for $29.2M + Up to $66M Earn-Out — deBanked (October 12, 2021)
Summary
A deBanked news item dated October 12, 2021 reports that NerdWallet paid $29.2M at closing to acquire Fundera last year, with an additional potential earn-out of up to $66M over the following two years if certain metrics were met, according to NerdWallet's S-1 filing of October 8. It cites NerdWallet's estimated fair value of the contingent consideration of $35.2 million as of December 31, 2020, and says Fundera launched in 2013 and raised $3.4M in 2014 and $15.5M in 2015. NerdWallet is quoted as planning to invest significant resources to integrate and expand Fundera's offerings.
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Cited in: Fundera · Jared Hecht
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“Fundera Sold for $29.2M + Up to $66M Earn-Out — deBanked (October 12, 2021).”
Original at debanked.com. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/debanked-on-nerdwallet-s-1-terms-29-2m-up-to-66m-9f82296014/
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Brokers MCA Video Tutorials Lead Sources Collections Firms Free UCC Search Links SMB Finance Rankings MCA Industry Attorneys UCC Filing Alias List TV Sponsors Info Forum Fundera Sold For $29.2M + Up to $66M Earn-Out October 12, 2021 | By: deBanked Staff When NerdWallet acquired Fundera last year, terms of the deal were not revealed. NerdWallet recently disclosed that it paid $29.2M at closing to acquire Fundera with an additional potential earn-out of up to $66M over the following two years if certain metrics were met. “As of December 31, 2020, the estimated fair value of the contingent consideration was $35.2 million,” NerdWallet reported. Fundera had entered the market strong, launching in 2013, raising $3.4M in 2014, followed by another raise of $15.5M in 2015. The party slowed thereafter. NerdWallet has big plans for Fundera, however. “We plan to invest significant resources to integrate, develop and expand new offerings and technologies in the markets in which Fundera operates,” the company wrote in its S-1 filing. NerdWallet filed its S-1 on October 8th. Last modified: October 12, 2021 Category: Online Lending Home › Online Lending › Fundera Sold For $29.2M + Up to $66M Earn-Out Help Wanted
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