Meet Dave, the Fintech App That’s $50 Million Richer

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Dave, a financial app that helps users avoid costly overdraft fees, landed a key investment that will boost its own financial future.

The startup landed $50 million in investment funding from Norwest, which is the sole investor in this round. Dave says this round brings its valuation to more than one billion.

Dave is one of a growing array of financially centered startups using modern tech to liberate users from traditional brick and mortar bank fees, such as overdrafts, that costs consumers money, while helping them take control of their finances.

The Los Angeles based startup currently has 4 million users.