Dave Inc./DE

Closed (deSPAC)

Profile in progress

What it is: Dave is a banking app on a mission to build products that level the financial playing field
What it’s doing now: Merging with VPC Impact Acquisition Holdings III, Inc. (VPCC) — closed (despac).
What you should know: The deal carries a $250M minimum-cash condition — heavy redemptions can break it.

The business, per its filings

SEC primary

Dave is a banking app on a mission to build products that level the financial playing field. Daves financial tools, including its debit card and spending account, help millions of customers bank, budget, avoid overdraft fees, find work and build credit. For more information, visit www.dave.com . Dave Media press@dave.com Investors DaveIR@icrinc.com 3 DAVE INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (in millions) (unaudited) For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Operating revenues: Service based revenue, net $ 43.0 $ 34.4 $ 82.3 $ 66.8 Transaction based revenue, net 2.8 2.8 6.1 4.9 Total operating revenues, net 45.8 37.2 88.4 71.7 Operating expenses: Provision for unrecoverable advances 13.9 7.4 27.6 10.9 Processing and servicing fees 7.6 5.5 14.1 10.7 Advertising and marketing 20.8 11.9 33.0 25.9 Compensation and benefits 39.1 9.9 57.0 19.3 Other operating expenses 17.4 8.8 32.3 21.5 Total operating expenses 98.8 43.5 164.0 88.3 Other expenses (income): Interest expense, net 1.6 0.4 3.2 0.6 Legal settlement and litigation expenses 0.2 0.6 Other strategic financing and transactional expenses 1.9 0.1 2.8 0.2 Gain on extinguishment of liability (4.3 ) (4.3 ) Changes in fair value of earnout liabilities (7.6 ) (9.6 ) Changes in fair value of derivative asset on loans to stockholders (6.9 ) 5.6 (24.0 ) Changes in fair value of warrant liabilities (17.5 ) 0.7 (13.5 ) 2.9 Total other income, net (25.9 ) (5.5 ) (15.8 ) (19.7 ) Net (loss) income before provision for income taxes (27.1 ) (0.8 ) (59.8 ) 3.1 Provision for income taxes 0.1 0.1 Net (loss) income $ (27.1 ) $ (0.9 ) $ (59.9 ) $ 3.1 DAVE INC. AND SUBSIDIARIES RECONCILIATION OF OPERATING REVENUES, NET TO NON-GAAP OPERATING R

What the company says about itself

Web research — not audited

Dave offers ExtraCash, a service providing up to $500 in cash advances with no credit checks, interest, or late fees. Eligibility is determined using proprietary technology called CashAI, which analyzes over 180 data points such as income and spending patterns. The service is trusted by over 14 million members.

Markets:: financial services | cash advances
Products:: ExtraCash | CashAI

Source: https://dave.com/ · captured Aug 26, 2026 · marketing claims are reported as claims, never merged into the filed figures above.

The deal it’s entering

Dave Inc./DE is merging with VPC Impact Acquisition Holdings III, Inc. (VPCC) currently marked Closed (deSPAC).

Headline equity value	—
PIPE	≈ $210M · unsourced
Minimum cash to close	$250M

Structure per SEC accession(s) 0001193125-21-292647. How to read these numbers: headline vs effective valuation · what a definitive agreement commits

What exactly is being valued, and at what

Common questions

Is Dave Inc./DE going public?

Dave Inc./DE has an approved merger with the SPAC VPC Impact Acquisition Holdings III, Inc. (VPCC). Deal status: Closed (deSPAC).

Does Dave Inc./DE have revenue?

The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.

Educational content, not investment advice.