Personal Finance Startup Files for IPO

NerdWallet, the personal finance startup, files for IPO. NerdWallet hired a group of investment banks, led by Morgan Stanley, to arrange the IPO. The aim is to go public before the end of the year. The San Francisco-based company could seek a valuation of as much as $5 billion.

The timing of the IPO and the valuation are subject to market conditions. Thus, they asked to not be identified because the preparations are confidential.

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A number of high-profile financial technology companies, such as Affirm Holdings, have gone public in the last six months. Others, such as Robinhood, Brazil's Nubank and financial services startup Chime are preparing to do the same later this year.

NerdWallet has expanded rapid...

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