Financial Wellness Platform Dave.com Celebrates One-Year Anniversary of its Revamped Job Finder, SideHustle
THE ANGEL–(BUSINESS WIRE) – Dave.com, the leading challenger bank on a mission to create financial opportunities that fuel America’s collective potential, is celebrating the one year anniversary of its updated SideHustle service, Dave’s unique platform that connects its users with thousands of job opportunities across the world United States. In August, Inc. Magazine named Dave the 5th Fastest Growing Company in America.
“If the last 18 months have taught us anything, it is that people are rethinking their relationship with work. The modern worker wants independence, flexibility and choice, and SideHustle offers just that, ”said Jason Wilk, Dave Co-Founder and CEO. “At Dave, we provide solutions to the everyday, hardworking American by helping them work on their own terms. And we help these employees manage their money through sensible banking solutions like no-fee overdrafts, budgeting tools and more, ”said Wilk.
In total, SideHustle has enabled over 550,000 applications and more than $ 200 million in additional revenue in its customers’ accounts since the platform launched in 2019. In September 2020, SideHustle relaunched to offer job opportunities of all kinds, including gig economy work, part-time and full-time jobs. Since the restart, 2.87 million applications have been eased as workers continue to recover from the pandemic.
In just five years, Dave has turned the banking industry upside down with a line of groundbreaking financial products designed to make a lasting impact on the lives of his clients. In total, Dave has attracted more than 11 million users with his first, innovative checking account with free overdraft, credit building, expense forecasting and the SideHustle job exchange. The company employs over 200 people and plans to grow to more than 14 million users by the end of 2021. Dave has grown a staggering 29,000% since it was launched four years ago.
At the height of the economic downturn in 2020, when more than 23 million Americans were laid off or on leave and stimulus checks provided short-term relief at best, Dave’s overdraft protection and the SideHustle platform helped customers pay bills on time and supplement their income with additional job opportunities, or one in four Americans struggling to hold an emergency financial fund of $ 400, and Dave was founded to provide a financial lifeline to those Americans who need it most.
Dave’s research shows that millions of Americans struggle to pay for essentials. The majority of the population charged with overdraft fees are parents trying to pay for food (57%), gasoline (41%), or financial emergencies such as doctor visits or car repairs (41%). Dave serves vulnerable Americans when they need it most.
Additionally, $ 800,000 was donated to Feeding America in 2020, of which $ 250,000 went to their Coivd-19 Response Fund. By May of this year, that number has more than doubled to nearly $ 5 million in donations.
Dave is the finance version of David and Goliath challenging old banks and their $ 30 billion overdraft fees. Dave is a banking app with a mission to create financial opportunities that fuel America’s collective potential. Dave’s financial instruments, including his debit card and spending account, help more than 10 million customers bank, budget, avoid overdraft fees, find work, and build credit.