{"id":32806,"date":"2025-01-27T23:56:00","date_gmt":"2025-01-27T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=32806"},"modified":"2025-01-28T08:31:57","modified_gmt":"2025-01-28T00:31:57","slug":"dave-unique-business","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/","title":{"rendered":"How Dave, a unique fintech, makes money"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Company_Profile\" >Company Profile<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Introduction\" >Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Origin_of_the_company_name\" >Origin of the company name<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Founded\" >Founded<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Initial_Public_Offering\" >Initial Public Offering<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Business_Scope\" >Business Scope<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Quick_View_on_Company_Service\" >Quick View on Company Service<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Short-term_loans\" >Short-term loans<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Digital_Banking_Services\" >Digital Banking Services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Find_a_part-time_job\" >Find a part-time job<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Operating_Model\" >Operating Model<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Capital_market_performance\" >Capital market performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Trumps_won_is_a_catalyst\" >Trump&#8217;s won is a catalyst<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Market_Cap\" >Market Cap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Stock_price_performance\" >Stock price performance<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_Profile\"><\/span>Company Profile<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction\"><\/span>Introduction<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"http:\/\/dave.com\" data-type=\"URL\" data-id=\"dave.com\" target=\"_blank\" rel=\"noopener\">Dave (ticker: DAVE) <\/a>is a digital banking services company whose main focus is cash advances.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Origin_of_the_company_name\"><\/span>Origin of the company name<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The company&#8217;s name, Dave, is an abbreviation of the hero in the biblical story of David and Goliath, and is used to highlight the company&#8217;s purpose of eliminating many of the features of traditional banks that customers cannot tolerate.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Founded\"><\/span>Founded<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u201cShark Tank\u201d star Mark Cuban, who led the company\u2019s $3 million seed round, said he was crushed by overdraft fees in his twenties.<\/p>\n\n\n\n<p>Dave&#8217;s CEO Jason Wilk is the former founder of AllScreen, which was also initially funded by Cuban when Mark Cuban invested US$300,000.<\/p>\n\n\n\n<p>The fintech company merged with VPC Impact Acquisition Holdings III, the blank check company of Chicago-based global investment firm Victory Park Capital.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Initial_Public_Offering\"><\/span>Initial Public Offering<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>On January 6, 2022, the company was listed on the Nasdaq in the U.S. stock market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_Scope\"><\/span>Business Scope<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Quick_View_on_Company_Service\"><\/span>Quick View on Company Service<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The financial services company, which offers a banking app, is dedicated to providing customers with services such as banking services, overdraft protection, building credit and finding part-time jobs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Short-term_loans\"><\/span>Short-term loans<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Dave&#8217;s main service is short-term loans. Instead of charging interest, origination fees or similar charges, the company charges an expedited service and a monthly fee; use of the service and offers the option to &#8220;tip&#8221; the company.<\/p>\n\n\n\n<p>The National Consumer Law Center (NCLC) is concerned about this operating model, saying some users may feel compelled to tip, which is not much different from paying interest.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Digital_Banking_Services\"><\/span>Digital Banking Services<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Dave launched banking services in 2019, through a partnership with Evolve Bank &amp; Trust.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Find_a_part-time_job\"><\/span>Find a part-time job<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It has a side job search service called SideHustle, and the company\u2019s \u201cSharing Economy Jobs Committee\u201d is also committed to helping improve the financial situation of gig workers.<\/p>\n\n\n\n<p><strong>Note<\/strong>: Dave&#8217;s special feature is not original. In Japan, <a href=\"https:\/\/www.mercari.com\/\" target=\"_blank\" rel=\"noopener\">Mercari<\/a> is the largest online shopping market in Japan, and many people are already members of it. There is a &#8220;job&#8221; icon at the bottom of the Mercari homepage. Click it to link Go to Hallo&#8217;s website. Workers do not need to write a resume or go through an interview before starting work. They just need to arrive at the workplace at the agreed time. The threshold is very low.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Operating_Model\"><\/span>Operating Model<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The company started with overdraft fees. For a $1 monthly membership fee, users get free access to their checking account and up to $100 in overdraft protection with no fees or interest. Members who sign up for direct deposit also get automatic budgeting and the ability to build their credit scores by reporting rent and utility payments to credit bureaus.<\/p>\n\n\n\n<p>The company said it has helped millions of customers avoid overdraft fees through its ExtraCash feature and has helped gig workers earn hundreds of millions of dollars from side hustles through its sharing economy job site Side Hustle.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Capital_market_performance\"><\/span>Capital market performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Trumps_won_is_a_catalyst\"><\/span>Trump&#8217;s won is a catalyst<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The election of the business-friendly Trump sent the company&#8217;s stock price soaring in November 2024. Many bank stocks surged in November as Trump vowed to deregulate the financial industry, but Dave&#8217;s stock price more than doubled in the last two months of 2024.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Market_Cap\"><\/span>Market Cap<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As of December 30, 2024, Dave&#8217;s market value is $1.21 billion, which is considered a small stock in the U.S. stock market.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Stock_price_performance\"><\/span>Stock price performance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As of December 30, 2024, Dave:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Since the beginning of 2024, it has risen by 995.82%.<\/li>\n\n\n\n<li>Since the company went public, it has fallen by 70.06%.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"51\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2024\/12\/Dave-Custom.png\" alt=\"Dave\" class=\"wp-image-32807\"\/><figcaption class=\"wp-element-caption\">credit: wiki<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related articles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/27\/dave-unique-business\/\">How Dave, a unique fintech, makes money<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/03\/24\/artificial-intelligence-online-lending-platform-upstart\/\">Artificial intelligence online lending platform Upstart<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/09\/12\/you-should-know-the-company-square\/\">You should know the company Square (rebraned to Block)<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/05\/19\/nubank-advantages\/\" target=\"_blank\" rel=\"noreferrer noopener\">What company is Nubank owned by Buffett? How it makes money and its advantages?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/08\/16\/why-acquired-afterpay\/\" target=\"_blank\" rel=\"noreferrer noopener\">Is Afterpay Worth Block (Square) $29 Billion M&amp;A?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/09\/16\/the-most-popular-news-credit-method-bnpl\/\">The most popular news credit method BNPL<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/01\/paypals-crisis\/\" target=\"_blank\" rel=\"noreferrer noopener\">PayPal\u2019s current crisis and appeal<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/11\/22\/paypal-plummeted-40\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why PayPal plummeted sharply by 42% from its peak?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/05\/09\/3-consumer-credit-rating\/\">Three major consumer credit rating companies Equifax, Experian, and TransUnion<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/08\/29\/fair-isaac\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fair Isaac, one of the most important listed companies in the US consumer finance industry<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Dave offers a banking app, is dedicated to providing customers with services such as banking services, overdraft protection, building credit and finding part-time jobs.<\/p>\n","protected":false},"author":1,"featured_media":32807,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126,106,121],"tags":[1417],"class_list":["post-32806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-consumer-banking","category-lending","tag-dave"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/32806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=32806"}],"version-history":[{"count":9,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/32806\/revisions"}],"predecessor-version":[{"id":33650,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/32806\/revisions\/33650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/32807"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=32806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=32806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=32806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}