Dave raies $50 million
Los Angeles-based money management startup Dave has raised $50 million from lead investor Norwest Venture Partners bringing its total funding to $186.3 million (including two debt rounds of $120 million).
Established in 2016, Dave started with an app that predicts upcoming expenses and has since expanded to offer no-interest cash advances, income creation (Side Hustle), and un-bounceable checks. Its membership costs $1/month, however users can earn free months of membership by making purchases at select stores.
Bottom Line: A user base of 4 million people who will enjoy saving on insurance.