Dave Inc is a fintech company that provides financial services aimed at empowering individuals with budgeting tools and access to low-cost banking solutions
Their platform offers features such as advances on income, personalized budgeting assistance, and a secured Mastercard that helps users build their credit scores. By leveraging technology, Dave Inc aims to simplify personal finance management and promote financial wellness, particularly for younger consumers and those facing economic challenges. The company is focused on creating a more inclusive financial ecosystem by addressing the needs of underserved markets.
Its quarterly net revenue was $100.9 million compared with $73.2 million a year earlier. Wall Street expected the company to report $95.27 million in revenue.
U.S. stocks plunged Tuesday as President Donald Trump‘s tariffs on key trade partners came into effect, prompting retaliatory measures and intensifying global trade tensions.
Stocks fell broadly on Monday to start the month of March with all three major indices red in midday trading. Investors digested a decline in February's ISM Manufacturing PMI data which fell to 50.3%, down from 50.9% in January.
The DOJ and FTC filed suit against Dave and its CEO for alleged deceptive practices, including hidden fees and misleading marketing, as the company defends its actions.
