How Much Did Dave Raise? Headquarters, Funding & Key Investors

Dave has completed fundraising that includes a $50M Series B (Sep 30, 2019), a $100M conventional-debt facility (Jan 28, 2021) and a $100M Post-IPO round (Mar 22, 2022). The company reports $63.6M in total previously disclosed equity funding alongside larger debt financings used for balance-sheet flexibility. Founded in 2016, Dave builds consumer banking tools paycheck advances, budgeting, and fee-free accounts aimed at reducing overdraft and improving financial health. Capital has underwritten product expansion, card and deposit capabilities, and partnerships to scale membership and revenue per user.

How Much Did Dave Raise? Funding & Key Investors

Dave is a mobile-first financial services app focused on helping consumers manage cash flow and avoid overdraft fees. The product offers small advances, budgeting tools, banking rails via partner banks, and a membership model that bundles features like cash advances and budgeting alerts. Dave emphasizes quick access to funds, transparent pricing, and tools that visualize spending. The company invests in card capabilities, deposit products, and partnerships with financial institutions to move from a single-product app toward a broader consumer fintech stack.

What Is Dave and What Does It Do?

Dave, founded in 2016 by Jason Wilk, John Wolanin, Zack Martinsek and Paras Chitrakar, is a Los Angeles–based (United States) mobile banking & fintech company that delivers on-demand cash advances, budgeting tools and debit-card / deposit services to consumers. The company reported 320 employees (as of Dec 31, 2022). Dave’s platform integrates underwriting, partner bank rails, and a membership model to provide faster access to small-dollar credit, reduce overdraft incidence, and help users build financial resilience.

How Much Funding Has Dave Raised?

1. Series B

Amount Raised: $50M
Date: September 30, 2019
Lead Investors: Norwest (reported)
Motivation: Scale product and expand deposit / card capabilities.

2. Conventional Debt

Amount Raised: $100M
Date: January 28, 2021
Lead Investors: Victory Park Capital Advisors
Motivation: Provide liquidity for lending and operational expansion.

3. Post IPO (facility/raise)

Amount Raised: $100M
Date: March 22, 2022
Lead Investors: Reported (FTX involvement cited in your data)
Motivation: Balance sheet support and growth capital.

Total Funding Raised: $63.6M (equity reported)

Latest Funding Date: March 22, 2022

Key Investors

1. Norwest Venture Partners

Details: A leading multi-stage fund backing high-growth technology and financial innovators.
Investment Focus Areas: Fintech, SaaS, healthcare, marketplaces.
Notable Investments: Calm, Kendra Scott, Udemy, Lumere, HoneyBook.

2. Victory Park Capital Advisors

Details: Global alternative investment firm specializing in credit for fintech and consumer platforms.
Investment Focus Areas: Fintech lending, specialty credit, financial infrastructure.
Notable Investments: Affirm, Klarna, Square Capital, Bread Financial, Marlette Funding.

3. FTX Ventures

Details: Early-stage fund focusing on fintech and Web3 companies.
Investment Focus Areas: Digital finance, crypto infrastructure, payments.
Notable Investments: Circle, LayerZero, BlockFi, Anchorage Digital, Yuga Labs.

Where Is Dave’s Headquarters?

Dave is headquartered in Los Angeles, United States.

What’s Next for Dave?

Dave will likely focus on pushing deeper deposit and card capabilities, improving underwriting to reduce risk, and expanding membership offerings to lift long-term revenue while stabilizing unit economics.

Get Investor & Funding Insights with TexAu

TexAu helps sales and business teams uncover detailed fundraising information on companies like Dave. Use the platform to research investors, track funding rounds, and gather actionable insights to strengthen prospecting and business strategy.

Sign Up for Free on TexAu and start uncovering detailed funding insights that give your business a competitive edge.