Business
Dave and Coastal Community Bank Announce Strategic Partnership
The partnership will grow Dave’s banking and ExtraCash products and improve financial inclusion Los Angeles, CA, March 03, 2025 (GLOBE NEWSWIRE) -- Dave Inc.
About this update from Dave Inc.
[{"type":"text","content":"The partnership will grow Dave’s banking and ExtraCash products and improve financial inclusion\nLos Angeles, CA, March 03, 2025 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks and Coastal Financial Corporation (Nasdaq: CCB), the holding company for Coastal Community Bank, today announced a definitive strategic partnership. Coastal Community Bank will become a sponsor bank of Dave, including for Dave’s banking products and Dave’s new, simplified ExtraCash product. Customers will begin onboarding to Coastal Community Bank as soon as Q2 2025. “We are thrilled to work with Dave as a sponsor bank. From our first discussions with their team, it was clear that we are aligned in bringing accessible, transparent financial services to traditionally underbanked populations,” said Brian Hamilton, President of CCBX. The strategic partnership with Coastal Community Bank and CCBX, the bank’s banking-as-a-service division, will accelerate Dave’s business growth and expansion, and support Dave’s mission to provide products that level the financial playing field for Americans. “This partnership marks a milestone moment for Dave. Coastal Community Bank is the right partner for our company because of their customer-first mission, deep knowledge across credit and banking products, strong risk management, and our shared ambition to make a difference in the communities that need it most,” said Jason Wilk, CEO and Founder of Dave. About Dave: Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on X. About Coastal Financial Corporation: Coastal Financial Corporation (Nasdaq: CCB), is an Everett, Washington based bank holding company whose wholly owned subsidiaries are Coastal Community Bank (“Bank”) and Arlington Olympic LLC. The $4.12 billion Bank provides service through 14 branches in Snohomish, Island, and King Counties, the Internet and its mobile banking application. The Bank provides banking as a service to broker-dealers, digital financial service providers, companies a...