Dave Launches Checking Account and Raises Debt Capital

Dave launched as a fintech that helped customers avoid overdrafts by providing interest free cash advances; the fintech is now launching a checking account that is designed to help improve users credit scores; Dave will begin reporting utility payments to credit agencies later this summer, this is in addition to the partnership they have with CreditPop who helps report rent payments to credit agencies; the features will help users show they a creditworthy as many can fall into a bad credit score due to late payments on some of their bills; the company also announced it raised $110mn in debt from Victory Park Capital. Source.