Updated: Apr 14
Former Airbnb Marketing Chief Jonathan Mildenhall joins US banking startup Dave. Mr. Mildenhall will have a nine-figure marketing budget to boost Dave’s profile and customer base in a crowded challenger bank category.
Jonathan Mildenhall, who has held senior marketing roles at Coca-Cola Co. and Airbnb Inc., will lead marketing for less well-known banking upstart Dave Inc., with the goal of building its brand and bringing more people into banking, he said.
Mr. Mildenhall has joined Dave, a three-year-old financial services company that says it has 7 million customers, in the newly created role of chief marketing officer. Director of Marketing Jordan Gladstone, who previously oversaw marketing, will report to Mr. Mildenhall.
Dave has raised $186 million from investors including Mark Cuban and Norwest Venture Partners, and will likely raise more funds through an eventual initial public offering, Mr. Mildenhall said.
Mr. Mildenhall, who had been consulting for Dave through his firm TwentyFirstCenturyBrand, wants to expand the company’s user base by promoting its services and creating an online community around the subject of financial planning and literacy.
Dave caters to people who have not had bank accounts and people who don’t want to pay expensive bank fees or overdraft penalties. People who sign up for Dave pay $1 a month for access to financial planning and job-finding services, as well as overdraft notifications for their bank accounts outside Dave. The company, which is part of an emerging financial services category called fintech due to its technology offerings, also offers a separate banking option with a debit card.