Bankruptcy Move: FTX Ventures Cuts Deal with Dave for $100 Million Stake
FTX Ventures, the venture arm of cryptocurrency exchange FTX, has announced a strategic investment in Dave, a financial services app, worth $100 million. Dave provides users with high-interest savings accounts, access to discount overdraft protection, and other financial services. With this new partnership, FTX Ventures is hoping to gain greater exposure to the rapidly expanding fintech sector and to tap into the David customer base—a growing population of budget-savvy millennials. The investment accelerates both companies' momentum in the space, as FTX Ventures looks to further expand its reach and Dave looks to continue pushing its customer base. The investment will also enable Dave to further its mission of providing more accessible financial services to its userbase.