Dave Inc. (NASDAQ: DAVE) started transitioning its ExtraCash receivables to a strategic funding arrangement with Coastal Community Bank on June 1, 2026, according to a company statement.

The neobank shifted from direct funding to a bank-partnership model with Coastal Community Bank, the wholly-owned banking subsidiary of Coastal Financial Corporation (NASDAQ: CCB). The arrangement is expected to unlock over $200 million of liquidity on Dave's balance sheet once originations are transitioned to Coastal.

"By funding ExtraCash originations through our strategic partnership with Coastal Community Bank, we are further strengthening the capital efficiency of our model by lowering our cost of capital, reducing balance sheet exposure and freeing up liquidity to pursue capital allocation priorities," said Jason Wilk, founder and CEO of Dave.

Dave indicated it expects to apply a similar funding structure to its forthcoming Flex card product, extending the reach of the Coastal partnership.

Coastal Financial Corporation is an Everett, Washington-based bank holding company with $5.66 billion in assets. The bank provides services through 14 full-service branches in Snohomish, Island and King Counties, one loan production office in King County, and digital platforms. The bank offers banking as a service to digital financial service providers through its CCBX segment.

The transition represents a shift in Dave's balance sheet strategy, moving away from direct funding obligations toward a partnership model designed to optimize capital structure. The company previously communicated this timeline for the funding arrangement transition.