NerdWallet, a platform that provides financial guidance to consumers and SMEs, has entered into a deal to acquire financial recommendation platform On the Barrelhead.
On the Barrelhead is a data-driven platform that provides consumers and SMEs with credit-driven product recommendations to help improve their financial lives.
Through the acquisition, On the Barrelhead will integrate into NerdWallet’s existing teams, brand, products and technology. NerdWallet claims that its trusted brand and knowledgeable financial guidance paired with On the Barrelhead’s data and technology solutions will enable consumers and SMBs to match with better financial products and make smart money moves.
On the Barrelhead claims it was founded with the goal of helping consumers and SMBs understand and navigate their loan options to improve their finances.
NerdWallet CEO Tim Chen said, “Our vision for a trusted financial ecosystem means we’re able to provide consumers and SMBs with a trusted platform to learn about various financial topics, shop for products, connect their data and receive data-driven nudges. On the Barrelhead’s data and technology solutions will help us advance toward our goal by enabling us to leverage consumer information to provide users with relevant financial guidance and more personalized and compelling product recommendations. Their differentiated technology solutions and NerdWallet’s trusted brand and reach will also strengthen our footprint in the lending space by providing significant value to our partners.”
On The Barrelhead CEO and co-founder Sam Yount added, “Finding trustworthy guidance and recommendations on how to access capital and consolidate debt is hard to come across for consumers and SMBs. We are excited to be joining NerdWallet’s dedicated and knowledgeable team to unlock more ways for our users to optimize their finances.”
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