Banking app 'Dave,' backed by Mark Cuban, began trading on the Nasdaq on Thursday
"We are thrilled to partner with VPCC and our new board of directors as we continue our mission to build products that level the financial playing field," Dave co-founder and CEO Jason Wilk said in a statement announcing the news. "This new influx of capital will allow us to invest in our business and in turn, help more people living paycheck to paycheck who traditional banking system has failed to support. We’re looking forward to hitting the ground running.
The deal included a private investment in public equity of $210 million led by Tiger Global Management with participation from Wellington Management, Corbin Capital Partners, and Alameda Research, Dave said in a press release.Ahead of its debut, Dave held an estimated value of around $4 billion. It opened at $8.27 per share on Thursday, placing its value at around $3 billion.
Dave was founded in 2017, and provides a financial platform offering a cheaper alternative to traditional
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