# Dave

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/dave

- Industry: Financial Services
- Headquarters: Los Angeles, US
- Website: www.dave.com
- Total disclosed funding: $66M
- Latest round: Series B (Sep 30, 2019)
- Investors on record: 6

## About

Based in California, US, and founded in 2016, Dave, Inc. is a banking application developer company. Jason Wilk (CEO), Paras Chitrakar (CTO), and John Wolanin are the co-founders of the company. In June 2021, VPC Impact Acquisition Holdings agreed to merge with Dave, Inc. The transaction will result in a merger between SPAC and Dave, Inc. The transaction is valued at USD 1 billion with a PIPE proceed of USD 210 million.

The company offers a mobile banking application that helps its customers with banking, overdraft protection, building credit, and finding side gigs. The platform helps customers avoid overdraft fees through its flagship feature, ExtraCash, and earn more income through its other feature called Side Hustle, which helps in finding a side job. Other functionalities include credit reporting, automated budgeting, free membership, and part-time job opportunities.

As of June 2021, the company plans to go public through a merger with SPAC and will trade under the ticker symbol DAVE.

## Funding rounds

- Series B, Sep 30, 2019, $50M — Norwest Venture Partners, CreditEase Fintech Investment Fund
- Series A, Oct 6, 2017, $13M — CreditEase Fintech Investment Fund, Financial Solutions Lab
- Seed, Apr 25, 2017, $3M — SV Angel, TCG, AID Partners
- Seed, Oct 2, 2016 — SV Angel

## Investors

- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Seed
- TCG (https://capitalatlas.ai/funds/tcg) — Seed
- AID Partners (https://capitalatlas.ai/funds/aid-partners) — Seed
- CreditEase Fintech Investment Fund (https://capitalatlas.ai/funds/creditease-fintech-investment-fund) — Series A, Series B
- Financial Solutions Lab — Series A
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series B