digital dave 100m ventures ftx

We are thrilled to support Block Tackle and its team of seasoned gaming veterans as they usher in a new era in games by redefining the value proposition for players.”

Some other notable investors that participated in the round include Coinbase Ventures, Solana Ventures, Twitch co-founder Kevin Lin, and Animoca Brands.

Dave: $100M Investment from FTX Ventures

FTX Ventures invested $100 million into a financial services app called Dave to enable the platform to begin offering cryptocurrency services. Launched in 2017, Dave is a publicly trading online banking service that offers various financial tools, including debit cards and no-interest cash advances.

With this deal, the FTX crypto exchange will serve as Dave’s official cryptocurrency partner. The company is stepping in the ring with other leading financial apps such as Cash App, PayPal and Venmo.


West Realm Shires Services, Inc., the U.S.-based owner and operator of the FTX crypto exchange, has invested $100 million in a strategic partnership with banking app Dave.

The company received a $100 million investment from the exchange of a $2 billion venture capital fund- FTX Ventures.

Dave CEO Jason Wilk said about the partnership:

“We believe blockchain technology has the potential to level the financial playing field across the globe. By aligning with a world-class leader such as FTX US, we are in position to enter the digital asset arena, explore new growth opportunities, and improve the member experience.”

The investment was made through unsecured convertible notes, a type of short-term debt, from FTX Ventures, a venture fund with over $2 billion.

Under the tie-up, FTX US will act as Dave’s exclusive partner for cryptocurrencies and the firms are working to add digital asset payments into Dave’s platform.

Dave CEO Jason Wilk said: “We believe blockchain technology has the potential to level the financial playing field across the globe. By aligning with a world-class leader such as FTX US, we are in position to enter the digital asset arena, explore new growth opportunities, and improve the member experience.

“FTX US is a pioneer in the cryptocurrency ecosystem, and we look forward to working with them long-term to enhance stakeholder value through digital assets.”

FTX US president Brett Harrison said: “We consistently look to align with companies that share our vision, have unique and disruptive business models, and can help drive widespread adoption of digital assets.

Digital dave 100m ventures ftx-e

The note bears an annual interest rate of 3.00% (compounded semi-annually).

FTX US will be the exclusive cryptocurrency partner of the Dave platform and will introduce digital assets to the Dave trading platform.

Dave’s went public in January through a special purpose acquisition company (SPAC) merger with VPC Impact Acquisition Holdings III, valued at up to $4 billion.

Brett Harrison, President of FTX USA, expressed his delight at the investment and stated that both parties share the same vision, commenting:

“We consistently look to align with companies that share our vision, have unique and disruptive business models, and can help drive widespread adoption of digital assets. Dave is a great fit as they check all three boxes.


We see significant growth opportunities ahead for both of our companies and are excited to be working with Dave.”

Dave said that the $100m infusion was made pursuant to an unsecured convertible note, which carries an annual interest of 3%.

The announcement follows Dave’s merger with VPC Impact Acquisition Holdings III, a special purpose acquisition company.

The deal included a $210m PIPE investment from Tiger Global Management, Wellington Management, Corbin Capital Partners and Alameda Research.

Free Report

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion.
US-based digital banking app Dave has formed a strategic partnership with West Realm Shires Services, the parent firm of crypto exchange FTX US. Free Report

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion.
The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals.
Dave has also received investments from Mark Cuban, Diplo, and Capital One Ventures.

C2X Nets $25M

Los Angeles-based C2X closed a $25 million funding round led by FTX Ventures, Jump Crypto and Animoca Brands. The raise was conducted as a private token sale, valuing the blockchain gaming platform company at $500 million. On March 18, C2X conducted its Initial Exchange Offering for its native token, the C2X token.
The company said it will be announcing the public listing of its native token at a later date.

C2X chose investors for its initial offering based on their history of investing in gaming, blockchain, cryptocurrency, and entertainment.

“As the metaverse moves from our imaginations into actual entertainment, experiences and products, Oorbit’s founders have created an innovative platform where developers, publishers and brands can create and more easily deliver their most compelling work,” Mark Cuban said in an official statement. “Best of all, and core to their plan, Oorbit has put the user at the center of their technology so they enable games and even worlds that will delight all comers, and blaze a path for metaverse growth overall.”

Metaverse Platform Developer Everyrealm Closes Another Celebrity-Filled Round

New York-based Everyrealm, a metaverse and NFT innovation and investment platform developer, closed another big funder round following its $60 million Series A led by Andreessen Horowitz last month.

Everyrealm launched about 10 months ago when it spun out of real estate firm, Republic.

By aligning ourselves with a world-class leader such as FTX US, we are able to enter the asset arena. digital technologies, explore new growth opportunities and improve the member experience.

Launched in January, FTX Ventures is the investment arm of FTX. It has a $2 billion fund to provide funding and support to businesses in or interested in the crypto space, and says its mission is to “advance the global adoption of blockchain and of the web3”.

Dave is a US-based fintech app with over six million members. It provides users with a budgeting and credit building product and a cash advance service.

Dave is the latest in a series of payment apps looking to offer crypto services.

Last March, PayPal rolled out crypto support, and as recently as January, it intended to launch its own stablecoin.

Some of the other investors that participated in the funding round include Terra, Galaxy Interactive, DeFiance Capital, and Crypto.com.

This funding comes as C2X plans to release 10 gaming titles this year, including a play-to-earn game called Crypto Superstars.

London’s Oorbit Closes $5M Seed Round

London-based Oorbit, a metaverse and gaming infrastructure developer, closed a $5 million seed round that included investments from Mark Cuban, HOF Capital and deadmau5’s Pixelynx. In an official press release, the company said it will be “launching in late 2022” with a platform that lets users experience games, events, marketplaces, and interactive media installations.

We look forward to working with them long-term to enhance stakeholder value through digital assets, ” said Jason Wilk, the CEO of Dave.

FTX exchange keeps on growing

The financial services app already has some heavy-weight investors, including FTX CEO Sam Bankman-Fried, whose Alameda Research invested in Dave’s pre-IPO. Dallas Maverick’s owner Mark Cuban and venture capital firm Capital One are also on the investors” list in the company.

FTX remains one of the fastest-evolving exchanges in the world today. After gaining approval in Dubai last week, the multi-billion valued firm launched an Australian subsidiary – FTX Australia – yesterday.

Crypto exchange FTX via its venture capital arm FTX Ventures has invested $100 million into Dave, a mobile banking company. This goes along with the ongoing payment industry’s wave towards a focus on systems that support crypto products.

Even firms such as MasterCard and Visa that have previously dealt with legacy payment systems have launched initiatives to facilitate payments via crypto assets. PayPal and its Venmo platform added support for crypto last year, while JackDorsey’s Cash App allows US users (bar New York) to send BTC via the Lightning Network.

FTX.US will help Dave enter the digital asset space

According to a news release by Dave, a strategic partnership will be formed between the parent company of FTX.US, West Real Shires Services, and the banking platform following the investment.

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