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Dave, banking app backed by Mark Cuban, will go public via a SPAC

Mark Cuban

Dave, a banking app backed by Mark Cuban, is going public.

Photo: Michael Reaves/Getty Images

Dave, the banking app backed by Mark Cuban, is going public through a SPAC merger that values the company at $4 billion.

Dave, which has 10 million customers, said it will become a publicly-traded company through a merger with Victory Park Capital Impact Acquisition Holdings.

The transaction includes a $210 million investment from other investors, including Tiger Global Management, Wellington Management and Corpin Capital Partners.

Launched in 2017, the Dave app aims to help customers avoid overdraft fees.
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