Nearside is an online bank for small and micro businesses that offers business checking accounts with no monthly, overdraft, or ATM fees and debit cards. It features a universal 1% cashback program and a Premium Cashback Rewards tier offering up to 5% cashback at merchants such as Amazon, Walmart, Shopify, Squarespace and Zero. The company builds its onboarding, payments and serving infrastructure in-house to retain more interchange revenue and pass a larger share back to customers. Nearside changed its name from Hatch and says its user base has increased by 800% since its Series A announcement, though it is not disclosing absolute customer numbers. Product roadmap items include a Term Loan product currently in limited beta and Sprout, which will allow SMB owners to incorporate their businesses from their Nearside dashboards. Founder and CEO Thomson Nguyen previously sold his startup Framed Data to Square and served as an entrepreneur-in-residence at Kleiner Perkins.

Total raised

$58M

Funding rounds

1

Latest round

Series B

Latest activity

Dec 2021