Dave (DAVE) enters exclusive sponsor bank agreement with Coastal Community Bank (CCB); onboarding Q2 2025

Dave Inc./DE

Coastal becomes exclusive sponsor bank for Dave’s banking products and simplified ExtraCash product; customer onboarding begins Q2 2025.
Agreement caps certain receivables held by Coastal at $100M each; Coastal may sell receivables to Dave after holding period.
Dave pays tiered fees on card transaction volume and minimum monthly fee; Coastal shares interchange revenue and pays management fee based on Fed Funds Rate.
Initial term of five years, automatic renewal; exclusive for new customers after beta; existing customers transitioned within 24 months of beta launch.
Dave funds cash collateral account; parent guarantee via separate Assurance Agreement.

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