Online banking platform developer Dave has received $100m in convertible note financing from FTX's $2bn corporate venturing vehicle.
Cryptocurrency exchange FTX has provided $100m in convertible note financing for US-based banking services provider Dave through its recently launched corporate venturing vehicle, FTX Ventures.
Founded in 2016, Dave has created a mobile-based banking platform designed to avoidslegacy bank issues such as overdraft fees while providing overdraft protection, financial advice and credit building services.
The investment is set to boost Dave’s balance sheet and give it the resources to drive its growth strategy and make future investments. It has also…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
