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NerdWallet to Acquire On The Barrelhead.

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Vincent

MANews-(C)2009-2022

US-based financial guidance platform NerdWallet, Inc. (NASDAQ: NRDS) has entered into an acquisition agreement with financial product recommendation platform On the Barrelhead, Inc., the company said.

Through this acquisition, On the Barrelhead will fully integrate into NerdWallet's existing teams, brand, products and technology.

NerdWallet said it will merge its brand and financial guidance capabilities with On the Barrelhead's proprietary data and technology solutions.

On the Barrelhead's platform provides consumers and SMBs with highly personalized credit recommendations by intelligently matching customer credit information with financial partner data.

NerdWallet expects that its brand and reach combined with On the Barrelhead's differentiated technology will unlock profitable growth at scale and help advance toward becoming a trusted financial ecosystem.

In addition to NerdWallet's ongoing expansion into new financial categories and geographies, this acquisition reinforces NerdWallet's ability to vertically integrate, as proven with its acquisition of Fundera.

For the twelve months ended December 31, 2021, On the Barrelhead generated approximately USD 38m in revenue, growing roughly 90% year-over-year, and USD 5m in net income.

NerdWallet believes the acquisition of On the Barrelhead would have been accretive to NerdWallet's revenue and adjusted EBITDA for the year ended December 31, 2021.

NerdWallet expects the acquisition will be accretive to NerdWallet's 2022 revenue and adjusted EBITDA and...

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