Dave

What Dave does

Dave is a U.S. mobile-first neobank (NASDAQ: DAVE) founded in 2015 and headquartered in Los Angeles, serving approximately 14 million members, of which 2.93 million are monthly transacting members as of Q4 2025. The company's flagship product, ExtraCash, provides cash advances of $25 to $500 with no interest or late fees, repaid on the user's next payday; this is the primary revenue driver, complemented by a Dave Checking account (with early direct deposit and fee-free ATM access at 40k+ MoneyPass locations) and a Goals savings account with Round Up automation. Banking services are delivered through a partner-bank model with Coastal Community Bank, Member FDIC, avoiding the need for Dave to hold its own banking charter.

The operating model is anchored by CashAI, Dave's proprietary AI-powered credit underwriting engine (currently v5.5), which is trained on over 150 million historical loan originations and billions of transactions to deliver real-time risk assessment and approval decisions within five minutes. DaveGPT provides a generative-AI layer for member assistance and personalization. Revenue is generated primarily through transaction-based fees on ExtraCash advances (a simplified 5% fee with a $5 minimum and $15 cap, restructured in early 2025 from a tips-based model), optional 1.5% external debit transfer fees, and up to $5 monthly membership subscriptions. Customer acquisition is product-led and mobile-first, with self-serve onboarding via iOS/Android apps and an average customer acquisition cost of $18 across 695,000 newly acquired members.

Dave went public in January 2022 via a SPAC business combination with VPC Impact Acquisition Holdings III, including a $210 million PIPE investment led by Tiger Global Management at an approximately $4 billion valuation. FY2025 revenue reached $554.2 million (up 60% year-over-year) with net income of $195.9 million (up 238% year-over-year), and Q1 2026 revenue grew 47% year-over-year to $158.4 million with net income up 101% to $57.9 million. The company is expanding its credit product surface with Pay in 4 (BNPL) in early access and the forthcoming Dave Flex card, while transitioning ExtraCash funding to a bank-partnership model with Coastal Community Bank that unlocks over $200 million in liquidity. The company faces ongoing regulatory scrutiny, including FTC and DOJ actions in late 2024 and a December 2025 Baltimore municipal lawsuit alleging usury on ExtraCash advances.

Name

Dave

Legal name

Dave Operating LLC

Website

https://Dave.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Dave is a U.S. mobile-first neobank serving underbanked and subprime consumers with ExtraCash cash advances (up to $500), FDIC-insured Dave Checking, and Goals savings, using proprietary CashAI underwriting across 14 million members.

Ownership category

akta.pro rank

Product category

Digital Banking

NAICS

Depository Credit Intermediation (5221)

SIC

Loan Brokers (6163), Miscellaneous Business Credit Institution (6159), National Commercial Banks (6021)

akta.pro primary industry

Cross-border/Remittance Neobanks (FSABAFAH)

Keywords

• Digital banking
• Cash advance app
• Overdraft protection
• Neobank services
• Earned wage access

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure, Supply Chain

Revenue model

1. ExtraCash Transaction Fees: Dave charges a simplified 5% fee structure with a $5 minimum and $15 cap on ExtraCash advances. This is the primary revenue driver from the core cash advance product.
2. Monthly Membership Subscription: Up to $5 monthly membership fee for ExtraCash, Income Opportunity Services, and Financial Management Services. Recurring subscription revenue from members.
3. Transfer Fees: Optional 1.5% fee for external debit card transfers.
4. Overdraft Fee: Overdraft fee equal to the greater of $5 or 5% when ExtraCash is used.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Dave is a mobile-first neobank that provides U.S. consumers with ExtraCash cash advances of up to $500, a digital Dave Checking account with early direct deposit, fee-free ATM access, and a Goals savings account. Banking services are delivered through a partnership with Coastal Community Bank (Member FDIC), with Dave providing the technology, AI-driven underwriting, and member experience layer via its iOS and Android apps.

Product overview

Dave is a U.S. neobank offering a suite of financial products centered around its ExtraCash overdraft advance service, Dave Checking account, and Goals savings feature. The platform uses proprietary AI technology (CashAI for credit underwriting and DaveGPT for member assistance) to serve subprime borrowers and underserved consumers. Key products include ExtraCash (up to $500 short-term advances), Dave Checking (with early direct deposit and fee-free ATMs), Goals Account (automated savings), and upcoming offerings like Pay in 4 (BNPL) and Dave Flex (credit card). Banking services are provided through partner Coastal Community Bank, Member FDIC, with debit cards issued under Mastercard license.

Differentiator

Problem solved

Functional benefit

Brands

• ExtraCash: AI-powered cash advance product offering up to $500 with overdraft protection
• Dave Checking
• Goals Account
• CashAI
• DaveGPT

Products and services

• ExtraCash ExtraCash is an AI-powered short-term cash advance / overdraft protection product that provides members with up to $500 in minutes, repaid on the next payday with no interest or late fees. It is Dave's primary revenue driver, using CashAI for automated underwriting decisions.
• Dave Checking Account A digital checking account that enables direct deposit up to 2 days early, fee-free ATM withdrawals at 40,000+ MoneyPass ATMs, Round Up purchases for savings, and serves as the primary deposit account for ExtraCash advances. Funds are FDIC-insured through partner bank Coastal Community Bank.
• Goals Account A savings goal feature that lets members create personalized savings goals, fund them automatically via Round Ups from purchases, and track progress toward each goal. There is no minimum deposit or commitment required.

Quantifiable outcome

• 1.69% 28-day past due rate (Q1 2026 record low)
• +4 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Coastal Community BankcoreStrategic or Co-development Partner · 1 June 2026Strategic funding partnership where Coastal Community Bank provides banking services, FDIC insurance, and funds ExtraCash receivables. The bank-partnership model shifts credit risk from Dave to the bank and is expected to unlock over $200 million of liquidity by reducing Dave's direct funding obligations. Partnership also planned to extend to future products including the Flex card and Pay in 4 card.
• PlaidcoreTechnology or Integration · 16 September 2025Plaid provides data connectivity infrastructure enabling Dave to securely access customer bank account data for underwriting and account verification. Dave confirmed no pricing impact from Plaid's new data access agreement with JP Morgan on its current agreement.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Chime: U.S. consumer neobank offering fee-free checking, early direct deposit, and cash advances. Most direct competitor to Dave Checking and ExtraCash within the underbanked segment.
• Cash App (Block): Block's consumer fintech app offering checking, savings, instant transfers, and small-dollar borrowing. Competes head-to-head with Dave for mobile-first underbanked consumers.
• MoneyLion: Public neobank targeting underbanked consumers with cash advances (Instacash), RoarMoney checking, and credit-builder products. Closest publicly traded analog to Dave's product mix.
• Current: Mobile-first neobank offering early direct deposit, fee-free overdraft, and savings pods. Directly comparable to Dave on ExtraCash overdraft alternative and Dave Checking.
• Varo Bank: Chartered neobank with checking, savings, and cash advance features (Varo Advance). Comparable business model as a digital-only bank targeting similar demographics.
• Albert: Mobile fintech offering Instacash advances (up to $250), Genius AI financial advice, and savings. Closely comparable to ExtraCash and DaveGPT feature set.
• Earnin: Earned-wage-access app providing paycheck advances with no mandatory fees. Directly comparable to ExtraCash from a product-mechanics standpoint and a frequent comparator in regulatory discussions.
• Brigit: Consumer fintech providing cash advances, credit-builder tools, and identity protection. Targets the same underbanked/financial-flexibility customer and competes on advance speed and amount.

Broad incumbents

• SoFi: Public consumer fintech offering checking, savings, lending, and credit cards. Overlaps with Dave Checking and Goals Account but targets a broader, higher-credit customer base.

Emerging players

• Affirm: Public BNPL leader relevant as Dave ramps its Pay in 4 product. Comparable as an installment-credit competitor entering Dave's roadmap category, though Affirm focuses on point-of-sale rather than member-based advances.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/davebanking
• Facebookfacebook.com/TheDaveApp
• LinkedInlinkedin.com/company/dave.com
• Instagraminstagram.com/thedaveapp
• TikToktiktok.com/@dave

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds10 records

Investors16 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dave