Dave was founded by Jason Wilk, Dr. John Wolanin, Paras Chitrakar in 2016. Dave's mission is to build products banks won't to change people's financial lives. Wilk and his co-founders were inspired to create Dave and their overdraft protection solution after having to use expensive overdrafts in college. Dave helps users avoid overdrafts which can have fees as high as 17,000% APR and generated profits of $33 billion for banks in 2016.   
Dave helps users budget and plan for upcoming expenses texting them when upcoming bills may put them into overdraft. If a user goes into overdraft Dave will advance up to $75 to users without charging any interest. Qualified users can also request advances from Dave. Dave can provide advances within days for free or within hours for a small fee. The advances do not require a credit check and do not affect credit scores. There are no late fees however if a user does not pay back their advance back by their due date they risk being banned.  
Dave earns money by asking users for tips, with every % a user tips, Dave plants a tree with Trees for the Future. Dave charges a $1 per month membership fee which offsets the costs of the predictive text messages Dave sends users and connecting to users' bank accounts.