Dave (DAVE) Ticks Higher on Partnership, $100M Investment from Crypto Exchange FTX

Dave Inc. (Nasdaq: DAVE) shares gained modestly after-hours after it entered into a strategic partnership with West Realm Shires Services, Inc., owner and operator of FTX US.

The companies will work together in order to expand the digital assets ecosystem, with FTX Ventures investing $100 million (unsecured convertible notes) in Dave, providing additional resources to expedite its growth strategy and invest in future initiatives.

The companies are also currently exploring ways to introduce digital asset payments into Dave’s platform.

In addition to the FTX news, Dave reported fourth quarter non-GAAP operating revenues of $42.2 million, versus $36.5 million last year. Net loss was $15.2 million, compared to $34.6 million in the same period last year.

By Davit Kirakosyan

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