Weekly refresh: Fundings galore and Jeffrey Katzenberg’s newest venture

by Sophie Kalt
June 24, 2019
photo via tamara mellon facebook

Fintech company Dave raised $110 million in debt financing. Dave’s banking platform makes covering unplanned spending overages less of a headache. The platform offers a credit-building feature and interest-free cash advances. The new funding will be used to scale the company to serve its 3 million customers and open the platform up to the 500,000 customers still on the waitlist. [Built In LA]

Elevate Services raised $25 million to expand its legal software empire. Elevate Services’ software, Cael, makes lawyers’ jobs easier by helping with the billing process and overseeing the lifecycle of legal contracts. Elevate works with over 100 global corporations and 20 international law firms. [Built In LA]

Jimmy Choo co-founder Tamara Mellon starts her next shoe venture. Tamara Mellon, a fashion e-commerce venture founded by the shoe queen herself, has raised $50 million to grow its team from 40 to 60 employees. The round is one of the largest fundings ever for a woman-founded fashion brand. [Built In LA]

Former Quidsi and Snap execs launch Verishop. The luxury e-commerce site is dedicated to making online shopping feel more like a boutique brick-and-mortar experience through careful curation and a wholly owned supply chain. [Built In LA]

Jeffrey Katzenberg’s Quibi booked $100 million in ad sales before launching. Quibi plans to be an entertainment streaming service offering 5-to-10 minute clips for shows on the go. The company has already booked advertisers including Pepsi and Google, according to TechCrunch. Watch out! [TechCrunch]

The Riveter  offers new office hours programs. The Riveter, a coworking space dedicated to improving gender equality in the workplace, will now hold “office hours” for people to learn from experts at Backstage Capital on topics like fundraising, pitching and more. [Press Release]

Former Dolce & Gabbana and St. John Knits executive joins Happy Returns team. Glen McMahon has been appointed chief revenue officer, leading the sales, account management and business development teams at Happy Returns. [Press Release]

Did we mention it’s pride month? Check out what these LA companies are doing to show their LGBTQIA+ support. [Built In LA]

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