Mobile banking app provider Dave has enough cash to survive the current downturn for fintech firms and reach profitability a year from now, according to CEO Jason Wilk.
But Dave is not capsizing, despite a staggering 97% decline in its shares, Wilk said.
"We're trying to dispel the myth of, 'Hey, this company does not have enough money to make it through,'" Wilk said.
"If you told me that only a few months later, we'd be worth $100 million, I wouldn't have believed you," Wilk said.
"It's tough to see your stock price represent such a low amount and its distance from what it would be as a private company."