Nerdwallet Generated $101M in Revenue from SMB Products in 2023

Posted under: SMB
Date: 2024-03-14
Nerdwallet Generated $101M in Revenue from SMB Products in 2023

Nerdwallet, a financial service shopping site, reported a 11% increase in revenue in 2023 from SMB loans, business credit cards, and other financial products and services, attributed to positive momentum for SMB products, as per its latest earnings report. Nerdwallet CEO Tim Chen predicts double-digit revenue growth in the second half of the year due to recovery in SMB products and insurance, with 14 million registered users as of December 31, 2023, providing a robust revenue generation base. The company aims to provide consumers and SMBs with a trusted financial ecosystem by registering and engaging users. This allows for repeat visits, data collection, and unique insights. The company is focused on increasing traffic and engagement on its platform, with registered users having a lifetime revenue value five times greater than non-registered users and more than twice the transactions and sessions.

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