Ron Burgundy Posted May 12, 2015 Share Posted May 12, 2015 By Sarah McBride SAN FRANCISCO (Reuters) - NerdWallet said it had raised $64 million in its first round of funding, far more cash than it needs to run the personal finance startup, in part to underscore its growth and show it has the potential to one day be valued at over $1 billion. The cash, an outsized sum for initial funding, will serve as a signaling device as much as it will help NerdWallet expand, said founder and Chief Executive Officer Tim Chen. “The more talent, the better.†The funding round values NerdWallet in the mid-hundred millions, a person familiar with the situation said. Once a company hits a $1 billion valuation, it becomes what Silicon Valley calls a "unicorn." Since the beginning of 2014, just eight U.S. startups have raised Series A funding rounds of $50 million or more, according to CB Insights, a consultancy. View the full article Quote Link to comment Share on other sites More sharing options...
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