Dave is joining the SPAC, merging with Victory Park Capital (VPC), an investment company. Regulators still must approve the deal along with the company's stockholders.
The financial management platform was launched in 2017 with a suite of banking tools like overdraft protection and a gig-economy job board. It currently has 10 million users.
Dave Banking released its debit card with no monthly fees and online banking app in December 2020.
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