Money.co.uk was founded in 2008 by entrepreneur Chris Morling, who is looking to position the brand as a trusted alternative in the sector.
The market is dominated by Confused.com, Comparethemarket.com, Moneysupermarket.com and GoCompare, all of which have major ad campaigns.
Money.co.uk has not had a retained agency before.
Morling said: "Our decision to work with Fold7 comes at a pivotal moment in our company’s growth and we’re all incredibly excited about what the future holds.
"We have already helped millions of people save money by getting a deal that’s right for them and I’ve no doubt the truly novel work Fold7 have planned will help us help many more."