Nearside, formerly known as Hatch, is a digital banking solution that helps small business owners with accessible banking, credit, and software tools that make it easier for them to start their business.
Nearside is on a mission to help aspiring or existing small business owners start and grow their business.
Nearside was founded in 2019 by Thomson Nguyen. The company is headquartered in San Francisco, California.
Nearside offers a revolving Line of Credit product that allows sellers to feel more comfortable with their cash on hand. A Nearside Business Checking account can be set-up in as little as 10 minutes, and comes with no NSF fees and cashback rewards.
Nearside uses machine learning to automate online sign-up process and its KYC and KYB requirements. Nearside also recently launched Premium Cashback Rewards, which offer up to 5% cashback at merchants like Amazon, Walmart, Shopify, Squarespace and Zero.
Nearside doesn’t target any specific sectors, and it onboards incorporated small businesses, like Sheer Faces, an eyelash extension and brow shaping boutique owned by LaShondra White. Its customers also include freelancers, solo entrepreneurs and people who haven’t formally started their business yet.
Nearside is backed by Kleiner Perkins, Valar Ventures, Foundation Capital, Breyer Capital, SVB, Abstract Ventures, Flexport founder Ryan Petersen, Eventbrite founder Kevin Hartz, and others. The company raised $58M in Series B round on Dec 06, 2021. This brings Nearside's total funding to $77M to date.