Twitter LinkedIn
    Tuesday, February 7
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals»Dave secures USD100m credit facility from Victory Park Capital
    Deals

    Dave secures USD100m credit facility from Victory Park Capital

    January 29, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    US banking app Dave has secured a USD100 million credit facility from global alternative investment firm Victory Park Capital (VPC). The funding will support the growth of Dave’s banking product and accelerate the company’s expansion into new products and features.

    In 2020, Dave rolled out Dave Banking, a spending account and debit card with no monthly fees. Launched in 2017 as a way to help avoid overdraft fees, Dave has grown into the third most valuable challenger banking app in the United States and was named the 26th most disruptive private company in the world. VPC’s partnership with Dave began in May 2018 and this transaction is the second to take place over the course of their relationship.

    “We look forward to our continued partnership with Dave as the company enters its next phase of growth and progresses in its journey to make banking more accessible,” says Jason Brown, partner at VPC. “Dave has amassed millions of loyal members by helping solve simple pain points like overdraft protection and automated budgeting, all while giving back to the community, and we are confident that the company will continue to be a significant challenger to traditional financial institutions.”

    “We are excited about the flexibility this deal gives us as we continue to expand Dave Banking for the 180 million Americans who live paycheque to paycheque and deserve access to high quality financial products,” says Jason Wilk, CEO of Dave. “Through this expanded partnership with Victory Park we will be making a meaningful impact on communities in the United States and beyond.”

    Source: Private Equity Wire

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Capital deals PE Insider Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    EQT Infrastructure acquires Madison Energy Investments

    December 22, 2022

    Euroclear moves into $9.8 trillion private asset market with Goji buy

    December 21, 2022

    Recent Rule Changes Spark New Wave of Private Equity Ownership in Pro Sports

    November 29, 2022

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    Comments are closed.

    Other Articles

    Velocity Ventures announce first close of $20m hospitality and travel fund

    June 30, 2021

    Majority of LPs attracted by tech-enabled PE managers

    March 30, 2022

    Private equity firm Nordic Capital buys consolidator Ascot Lloyd

    April 22, 2022

    KKR to acquire Probe CX

    October 1, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?