Last March, as the physical world went offline, April Underwood watched her neighborhood businesses struggle to survive as foot traffic evaporated and ordering everything from Amazon or Walmart became the national norm. Mom-and-Pop shops took phone orders or attempted the online pivot as Twitter activists supported Main Street by organizing Google spreadsheets of independent shops and restaurants open for businesses.
So in September 2020, she launched Nearby, a platform of hyperlocal marketplaces where users can buy from multiple local businesses online and checkout through one cart. Nearby started small with just 17 merchants in Oakland, California. The startup has since doubled the number of sellers on the platform which has seen more than $100,000 in sales to date. The startup just closed a $21 million Series A round which will help launch the startup into other markets.
Nearby offers free sign-ups to merchants and covers shipping and logistics. The company takes a fee for each transaction, which Underwood notes is “on the floor” compared to other online marketplaces where businesses can lose up to 30% of their margins because of fees and shipping costs. Austin and Charleston, South Caroline are set to be the next Nearby marketplaces, which the company chose based on the number of nominations made via the platform’s website.
I owe you an apology to ever doubt your sincerity and professionalism. It’s was just like a dream to me when I received my first payment. After my second payment it became a reality now after several payments it has become a way of life. LISATOWNSENDC
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