It’ll take more than Dave to beat finance Goliaths

Online financial startup Dave said on June 7 it agreed to go public through a merger with special purpose acquisition company Victory Park Capital at an equity value of $4 billion. The transaction includes a $210 million concurrent private placement led by Tiger Global Management.

Dave is a financial app that helps its some 10 million customers avoid overdraft fees. The company, launched in 2017, is backed by billionaire Mark Cuban, The Kraft Group and The Chernin Group.Mark Cuban, owner of the NBA Dallas Mavericks, speaks during the Wall Street Journal Digital Live conference at the Montage hotel in Laguna Beach, California October 20, 2015.

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