Dave Receives $100 Million Investment from FTX Ventures

The Nasdaq-listed company, Dave has confirmed recently that it has secured an investment worth $100 million from FTX Ventures, a $2 billion venture fund. Through the strategic partnership between West Realm Shires Services, the owner and operator of FTX US and Dave, the companies are planning to accelerate the expansion of the global crypto ecosystem.

Dave is one of the fastest-growing banking apps. Its collaboration with the digital asset services provider means that FTX US will serve as the company’s exclusive partner for cryptocurrencies. Moreover, the parties are exploring options to introduce digital asset payments onto Dave’s platform. An initiative that will boost the adoption of digital assets substantially.

“This is an exciting milestone for our Company, our shareholders and all Dave members,” said Jason Wilk, the Chief Executive Officer of Dave. “We believe blockchain technology has the potential to level the financial playing field across the globe. By aligning with a world-class leader such as FTX US, we are in a position to enter the digital asset arena, explore new growth opportunities, and improve the member experience. FTX US is a pioneer in the cryptocurrency ecosystem, and we look forward to working with them long-term to enhance stakeholder value through digital assets.”

In January this year, FTX US raised $400 million in its Series A funding round and topped the valuation of $8 billion.

Dave

With the growing number of clients around the world, Dave is planning to offer innovative services to enhance the use of technology-driven financial solutions.

“We consistently look to align with companies that share our vision, have unique and disruptive business models, and can help drive widespread adoption of digital assets. Dave is a great fit as they check all three boxes. We see significant growth opportunities ahead for both of our companies and are excited to be working with Dave,” Brett Harrison, the President of FTX US, commented.