UK price comparison site Know Your Money is set to be acquired by NerdWallet, a US-based website and app that provides financial guidance to more than 160 million consumers every year.

Through the acquisition, the combined company aims to become the most comprehensive financial comparison website in the UK.

Founded in 2008 and headquartered in San Francisco, NerdWallet helps users navigate financial decisions across a variety of topics, including credit and debt, home and auto loans, and wealth management.

Know Your Money was co-founded in Norwich in 2004 by John Ellmore and Jason Tassie, digital marketing experts with experience at Google and Aviva respectively.

The site has developed a network of premium partners and a suite of personal finance products, including lending, insurance and administration.

NerdWallet intends to invest in and allocate resources to Know Your Money as a significant corporate initiative, with plans to increase headcount, expand into new personal finance sectors, and build out a more expansive library of content.

“The pandemic has created a surge in demand for financial guidance and products in areas like refinance and investing — we’ve seen record visits to our site in these areas this year," said Tim Chen, co-founder and chief executive of NerdWallet. "Expansion to the UK is an important step towards our vision of a world where every consumer makes financial decisions with confidence."

Tassie added: “Working with NerdWallet will help us accelerate our existing growth plans, expanding our content library, tools and guides to offer users more support in financial decision making."

Know Your Money will become a NerdWallet subsidiary and all employees will stay on, including Ellmore and Tassie.

The deal is subject to customary closing conditions, including approval from the UK Financial Conduct Authority.

Share Story: