We open sourced a $50M neobank
Open sourcing our neobank for nonprofits has been years in the making. We shared our initial launch here back in 2019 (https://news.ycombinator.com/item?id=19257241). Today, I’m happy to announce that our Ruby on Rails codebase is public on GitHub!
We open sourced a $50M neobank launched on March 29, 2025 with 28 votes, #678 of 7,215 launches that month and more than 90% of that year's launches. The site was still online in September 2026, 1 year on.
In plain words
A neobank platform originally valued at $50 million and designed for nonprofits has made its Ruby on Rails codebase publicly available on GitHub. The open-source project allows developers to access and build upon the banking infrastructure that was previously proprietary. This release represents the culmination of years of development, following the platform's initial launch in 2019.
written from the facts on this page · September 2026
From the sources
Our fiscal sponsorship platform's codebase is now publicly available under the AGPL license and we're continuing to encourage transparency amongst nonprofits.
Hack Club launched HCB in 2018 to enable hackathons to raise and spend money through fiscal sponsorship . Since then, we've expanded to all nonprofit projects; our 12,000 users have transacted $50 million. Local student-run hackathons, robotics teams, and community groups use HCB as a nonprofit neobank to collect donations, send payments, issue debit cards, and gain 501(c)(3) status. When we started HCB, it was developed in private for security reasons. That said, one of Hack Club's core principles has always been transparency — we open source our finances , document how we run events , and have 500+ public repositories on GitHub . github.com/hackclub/hcb is now public — check it out and…from hackclub.com
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