“Can a neobank profitably serve the smallest sole proprietors and freelancers that traditional banks won't underwrite?”
Founded 2019 by Thomson Nguyen (previously acquired into Square via Framed Data) as Hatch, a neobank targeting the smallest of the small businesses — sole proprietors, freelancers, gig workers — under-served by traditional banking. Rebranded to Nearside in late 2021 alongside a $58M Series B. Ran an Evolve Bank & Trust-sponsored business checking product plus SMB lines of credit. The company was ultimately acquired/merged by Priority Financial, and the standalone Nearside neobank product has effectively wound down.
Nearside discloses Evolve Bank & Trust as its sponsor bank, according to the Embedded Finance Index 2026.
Nearside does not disclose a bank charter of its own; its banking services are provided through Evolve Bank & Trust.
Nearside's lending and capital products are provided by Nearside (in-house).
Nearside integrates with QuickBooks and Xero.
The Embedded Finance Index 2026 maps 3 layers in Nearside's stack: Lending (Nearside (in-house) and Nearside Line of Credit); Sponsor bank (Evolve Bank & Trust); Accounting (QuickBooks and Xero).
Nearside was founded by Thomson Nguyen and is founded in 2019, headquartered in San Francisco, California, United States.
Nearside has raised $73M in total (latest round: Series B, 2021).
Get a read on where your own stack stands against Nearside and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.