Nearside is a technology company.
Nearside has raised $73.0M across 3 funding rounds.
Key people at Nearside.
Nearside was founded by Thomson Nguyen (Founder & CEO).
Nearside has raised $73.0M in total across 3 funding rounds.
Nearside was founded by Thomson Nguyen (Founder & CEO).
Nearside has raised $73.0M in total across 3 funding rounds.
Nearside's investors include 9Yards Capital, Gautam Gupta, A* Capital (A Star Capital), Aniq Kassam, Founder Collective, Founders Fund, IA Ventures, Initialized Capital, OMERS Ventures, Valar Ventures, Y Combinator, Allison Barr Allen.
Key people at Nearside.
Nearside is a fintech company that builds banking and lending products for small and medium-sized businesses (SMBs), including free checking accounts, lines of credit, term loans, and business incorporation services.[1][2][3] It serves SMB owners by solving access barriers to traditional banking, such as high fees and limited credit options, through no-fee accounts, unlimited 1% cashback debit cards, and streamlined financial tools that enable focus on growth.[1][2][3] Originally launched as Hatch in 2019, Nearside raised $78M in funding, including a $58M round, before its acquisition by Plastiq for $130M in November 2022, marking strong growth momentum in the SMB fintech space.[1][2]
Nearside was founded in 2019 by Thomson Nguyen and a team of veterans from Block (formerly Square), initially under the name Hatch.[1][4] The idea emerged from recognizing gaps in inclusive financial services for SMBs, particularly underserved owners needing simple banking without fees or complexity.[3][4] Early traction came from its free checking accounts and cashback debit cards, attracting venture backing from firms like Foundation Capital, Kleiner Perkins, and Valar Ventures, culminating in significant funding and the 2022 sale to Plastiq.[1][2]
Nearside rides the SMB fintech democratization trend, capitalizing on digital banking's rise post-2019 to make services accessible amid traditional banks' high costs and slow adaptation.[1][2][4] Timing aligned with pandemic-driven SMB digitization and demand for fee-free tools, amplified by market forces like rising e-commerce and credit needs for small operators.[3][4] It influences the ecosystem by complementing payments platforms like Plastiq, expanding B2B fintech stacks and fostering inclusion for millions of underserved businesses.[1]
Post-acquisition, Nearside's products will likely integrate deeper into Plastiq's SMB payments ecosystem, enhancing lending and banking alongside credit card payables.[1] Trends like AI-driven credit scoring and embedded finance will shape its path, potentially scaling to more global SMBs amid economic recovery. Its influence may evolve from standalone disruptor to core enabler in consolidated fintech, empowering the next wave of small business growth as it began: by removing financial hurdles for founders.
Nearside has raised $73.0M across 3 funding rounds. Most recently, it raised $58.0M Series B in December 2021.
