Dave Getting Early Traction on New Bank Account

Fintech startup Dave began rolling out their new bank account in May to a waiting list of two million people; there are now seven million users of Dave’s automated budgeting tool and they expect one million bank account customers by the end of the year; Dave CEO Jason Wilk said, “One million is a very conservative number for us to hit. We have 2 million of our core users signed up for Dave Banking, and every time we send a push notification to invite someone off that list, 1 out of every 2 people end up signing up for an account.”; the large user base means Dave spends very little in acquisition costs to add a new banking customer; Dave also announced that it is using Mastercard for its debit card and upcoming products. CNBC.

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