Norwest Venture Partners has acquired a 5% stake in JPMorgan Chase and Chernin Group-backed digital banking service provider Dave at a $1bn valuation.

Dave, a US-based digital banking app developer backed by over-the-top media company Chernin Group, has received $50m in funding from venture capital firm Norwest Venture Partners (NVP), TechCrunch reported today. The deal valued the company at $1bn according to TechCrunch, and it increased Dave’s overall equity and debt financing to $189m. Founded in 2016, Dave…

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