Dave is a U.S. neobank pioneering innovative credit products for everyday Americans.
185 million Americans regularly need help covering basic necessities like groceries, gas and rent between paychecks. Legacy banks charge them up to $100 a day in overdraft fees. Credit cards trap them in revolving debt with compound interest. The system is broken.
Dave was founded in 2017 by Jason Wilk, who was tired of paying overdraft fees to bridge a short gap between paychecks. He set out to make short-term liquidity fast, fair and transparent, so a temporary funding issue doesn't turn into a lasting financial setback.
Today, Dave has more than 14 million members and its mission remains the same: to level the financial playing field for Americans who need it most.
A better way to underwrite
Traditional lenders rely on FICO scores, a system built for long-duration debt that fails millions of creditworthy Americans. Dave pioneered the use of cash flow data from a customer's primary checking account, with the hypothesis that this would be a better way to underwrite customers for short duration liquidity.
This proprietary underwriting engine, which we call CashAI, processes billions of transaction data points to deliver the highest credit limits and lowest loss rates in the industry. As of 2025, CashAI has originated more than 180 million transactions, with originations per user growing triple digits at the same time as loss rates declined to nearly 1%.
We believe CashAI is an important moat for our business and underpins the future of short-duration liquidity.
Liquidity without the penalties
Our flagship product, ExtraCash, leverages CashAI to approve members for up to $500 between paychecks within minutes of joining. Clear pricing ($5 per $100 borrowed), no hidden terms, no credit check, no debt sent to collections, and no direct deposit required.
This exceptional speed to value and low cost leads to an efficient marketing flywheel, with 30% of new members joining via word of mouth. We acquire customers for less than $20 versus incumbents spending hundreds of dollars per new customer.
Built for Americans who deserve better
We only grow when we help solve the real financial challenges our members face. That's why we offer liquidity products that are low-cost, short-term and free of late fees and compound interest. We disclose all terms upfront and offer straightforward repayment structures, so our members know what they're agreeing to and can plan ahead.
Our future
We're still early and believe we have significant runway ahead for our flagship offering. Dave is also building the next generation of short-term credit with its forthcoming Pay In Four card, aimed at disrupting subprime credit cards using the same foundational principles: no credit check, late fees or compound interest.
