Skip to content
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
placeholder-661-1.png
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
logo

Mark Cuban-Backed banking app Dave to go public in $4 BLN Spac merger

Billionaire Mark Cuban-backed Dave said it would go public through a merger with a blank-check firm sponsored by investment firm Victory Park Capital, valuing the banking app at $4 billion. Dave is an app launched in 2017. It is used to help Americans avoid billions of dollars in overdraft fees charged by traditional banks. It currently has 10 million customers.

Due to the pandemic, companies such as Dave are rushing to capitalize on a boom in demand for online banking services. Chime, which is a Financial services start-up has also held preliminary talks with investment banks about launching a stock market flotation. This could value it at more than $30 billion. The deal with special-purpose acquisition company (SPAC), VPC Impact Acquisition Holdings III Inc, includes a $210 million investment. This is led by Tiger Global Management, with additional participation from Wellington Management and Corbin Capital Partners.

YOU MAY ALSO LIKE

An Economic Dilemma: The Temptation of Inflation

A Shift in Global Governance: A New Order for the Global South

Norwest, Section 32, Capital One, The Kraft Group, SV Angel and The Chernin Group are the other investors of Dave. SPAC is a blank-check firm. This seeks to merge with a privately owned entity, a deal type that has become very common in the last year. This merger came after a lull in deal making. This is due to weak investor appetite and greater regulatory scrutiny and is expected to close later this year. Center view Partners LLC served as the exclusive financial advisor to Dave. Citigroup and Jefferies served as capital markets advisors to VPCC and co-placement agents on the investment.

Tags: BankingDave appMark CubanVictory Park Capital

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

An Economic Dilemma: The Temptation of Inflation

An Economic Dilemma: The Temptation of Inflation

A Shift in Global Governance: A New Order for the Global South

A Shift in Global Governance: A New Order for the Global South

A Shift in Hiring Dynamics on Wall Street

A Shift in Hiring Dynamics on Wall Street

Market Sentiments and Asia’s Currencies

Market Sentiments and Asia’s Currencies

Hope and Innovation: A Bionic Arm for Nigeria

Hope and Innovation: A Bionic Arm for Nigeria

European Stocks Edge Higher as Consumer and Healthcare Gains Offset Tech and Defence Weakness

European Stocks Edge Higher as Consumer and Healthcare Gains Offset Tech and Defence Weakness

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

An Economic Dilemma: The Temptation of Inflation

A Shift in Global Governance: A New Order for the Global South

A Shift in Hiring Dynamics on Wall Street

Market Sentiments and Asia’s Currencies

Hope and Innovation: A Bionic Arm for Nigeria

Categories

  • Banking
  • Business
  • Events
  • Finance
  • Blogs
  • Fintech
  • Forex
  • Insurance
  • Technology
  • Videos

Social Media

COPYRIGHT © 2020-2025 GLOBAL BUSINESS REVIEW MAGAZINE LLC - ALL RIGHTS RESERVED

  • About Us
  • Contact Us
  • Advertise With Us
  • Leadership report
  • Privacy Policy
  • Disclaimer
  • Terms & Conditions
No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

Copyright © 2025 Global Business Review Magazine - All Rights Reserved.