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Nearside
A neobank for SMBs
- 21-100 employees
- Fintech
- B2B
- Banking
- Lending
- Financial District, San Francisco, CA
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Company mission
To provide access to transparent and fair financial products.
95% employee growth in 12 months
Our take
Nearside is a digital bank helping small businesses grow. The company founder comes from a background in business start-ups, and has since combined with fintech experts to support strategic banking measures.
What makes Nearside unique is its strategic approach to businesses on an individual basis. As a small business itself, it's able to respond quickly to business needs, with account approval taking a matter of minutes. The company is a smart choice for small businesses as it doesn’t charge non-sufficient funds or overdraft fees. Through Nearside, small businesses can have equal access to the financial resources and insights which are often accredited to large corporations.
Nearside continues to improve its services, including by the addition of "Sprout", which enables users to form an LLC in 30 minutes or less. In 2022, the company was acquired by Plastiq, a business payment platform focussed on small and medium-sized businesses.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- Work from home opportunities
- Health insurance
- Unlimited vacation
- 401k
Company values
- Grow the Pie! We believe that sweat equity should be recognized and rewarded. Business owners work hard in order to build a better life for themselves, their families, and their communities. Our goal is to support business owners who have the grit and passion to succeed and together, build a better economy for everyone.
- Understand Before Being Understood. We actively strive to understand the person working across from us. We believe that everyone brings something to the table and that it is important to understand their views before we express our own. If we seek to understand first then compromise, empathy and understanding will follow.
- It Takes a Village. Capital alone is not enough to start or make a small business successful. Business owners depend on their communities and other businesses for support, advice, and expertise. At Hatch, we try to understand how everyone both internally and externally--contributes to the overall effort. This allows us to move forward together and faster.
- People are Fallible, Systems Shouldn't Be. Everyone makes mistakes. We want to create a culture where we can own up, resolve, and learn from our mistakes. More important to us than determining culpability or placing blame, is developing systems and processes for improvement. These endure past any one person’s effort, error, and ultimately our own time at Hatch.
- Lending Is Not a Permanent Solution. At Hatch, we believe that providing you with credit is only one of the ways to help you start or grow your business. We want to build a long-lasting, successful business alongside you; one that’s aligned with your needs. Sometimes you may need a loan or line of credit, and sometimes you may not--and that’s okay! At Hatch, we want to offer you only the support you want. We will never encourage you to take on unnecessary debt.
Funding (last 2 of 3 rounds)
Dec 2021
$58m
SERIES B
Feb 2020
$14m
SERIES A
Total funding: $77m
This company has top investors
Leadership
Thomas Nguyen
(CEO)Data Scientist at Lookout and Causes, before founding Framed Data in 2013. Sold the company to Square in 2016, where they became Head of Capital Data Science. Founded Hatch (later becoming Nearside) in 2019.