Dave Inc. enters non-binding LOI for strategic partnership with sponsor bank

Dave Inc./DE

LOI with a leading publicly-traded sponsor bank to originate ExtraCash, hold deposits, issue debit cards, and provide ACH.
Partnership includes collaboration on next-generation banking and credit products for over 11 million members.
Non-binding; definitive agreements to be negotiated; bank name to be announced upon execution.
CEO cites scale and member growth as drivers for diversifying key commercial relationships.

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