What is Nearside?
Nearside offers free small business checking accounts, eliminating monthly fees, overdraft charges, and ATM fees. Its unique selling proposition includes an unlimited, universal 1% cashback reward debit card program, setting a new standard in the banking sector for small and medium-sized businesses. Headquartered in San Francisco, California, Nearside aims to simplify banking for entrepreneurs and small businesses, providing essential financial tools without the traditional barriers.
How much funding has Nearside raised?
Nearside has raised a total of $78M across 2 funding rounds:
Series A
$20M
Series B
$58M
Series A (2021): $20M with participation from Silicon Valley Bank, Foundation Capital, and Kleiner Perkins
Series B (2021): $58M led by Foundation Capital, Kevin Hartz, Ryan Petersen, Kleiner Perkins, Michael Ovitz, Jim Breyer, and Valar Ventures
Key Investors in Nearside
Foundation Capital
Foundation Capital is a venture capital firm that partners with bold founders building category-defining technology companies, supporting entrepreneurs from the earliest stages through long-term growth with deep operational and strategic expertise.
Kleiner Perkins
Kleiner Perkins is a Menlo Parkbased venture capital firm that raises dedicated funds and invests in early and growthstage technology and lifescience companies, backing founders across consumer, enterprise, healthcare, and climate/hard tech with capital and operational support from seed through IPO or acquisition.
Valar Ventures
Valar Ventures is an investment firm focused on high-margin, fast-growing financial technology companies globally. They seek out exceptionally focused teams with large ambitions, believing that founders should retain substantial equity and control.
What's next for Nearside?
The substantial enterprise-level funding positions Nearside for significant scaling and product development. This strategic investment is likely to fuel expansion into new markets, enhance its technological infrastructure, and broaden its service offerings to better serve the SMB community. With a focus on innovation and customer-centric solutions, Nearside is poised to further disrupt the traditional banking industry and solidify its role as a key financial partner for businesses.
See full Nearside company page
