Dave
Description
Dave is a leading US challenger bank on a mission to put everyone’s financial mind at ease with free overdraft cash, budgeting and side gigs.
Overview
| Type: | Private |
| Funding Status: | Series B |
| Foundation year: | 2016 |
| Location: | Los Angeles, California, United States |
| Number of employees: | 101-250 |
| Founders: | Jason Wilk, John Wolanin, Paras Chitakar |
| Website: | https://dave.com/ |
Target geographic market:
North America
About Product/Service
| Core product offerings for individual/retail customers | Checking Account |
|---|---|
| Regulators/Compliance | Every account is protected by banking-level security and FDIC-insured up to $250,000 |
| The Base Currency | $ (USD) |
| Openning a current account (business and personal) | Free |
|---|---|
| Monthly fees | $1 |
| Issuing physical card and delivery | Free |
| Money transfers/payments | Free |
| ATM withdrawals | Free |
| Overdrafts | The account doesn't charge overdrafts while still allowing digital bill payments (sends checks on your behalf) |
| (a) a personal account | Yes |
Funding rounds
| Last Funding Date | Sep 30, 2019 |
|---|---|
| Last Funding Amount | $50M |
| Last Funding Type | Series B |
| Total Funding Amount | $73M |
| Number of Funding Rounds | 5 |
Financials
| Customer/Products segments | Banking, Payments, Personal Finance |
|---|---|
| Type of customers | Individuals |
| Number of investors | 15 |
| Number of lead investors | 1 |
| Names of lead investors | Norwest Venture Partners |
Tech stack
Competitors
| Founding Date | Type | Tags | |
x OakNorth OakNorth is a credit science platform that... | 2015 | Private | fintech, challenger banks |
x Gemalto Gemalto is an international digital security... | 2006 | Private | Gemalto |
x Coconut Coconut is the current account that takes care of... | 2016 | Private | Challenger banks, fintech |
x ClearBank ClearBank is the UK’s first new clearing bank in... | 2014 | Private | Challenger banks, fintech |
x Fiinu Millions of adults do not have access to an... | 2017 | Private | fintech, challenger banks |
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