What Happened to Dave Inc.?
Ticker: DAVESPAC Year: 2021
Return
+2053.6%
Current Price
$199
Peak Price
$491.07
Trust Size
$487M
Summary
Dave is a neobank and fintech company that offers banking services, cash advances, and budgeting tools through its mobile app, targeting Americans who are underserved by traditional banks.
What Happened
Dave went public in January 2022 through a merger with VPC Impact Acquisition Holdings III at a $4 billion valuation. The company was founded to help consumers avoid overdraft fees through small cash advances. After the stock plummeted over 99% from its highs, Dave staged one of the most remarkable SPAC comebacks — the company achieved profitability, grew revenue rapidly, and was named the top-performing financial stock of 2024 by CNBC, with shares surging from under $10 to nearly $100.
Timeline
2021-02-26
S-1 Registration Filed