Dave (DAVE) and Coastal Financial (CCB) said Monday they have partnered to support Dave's banking services.

Financial details weren't provided.

Coastal Financial's Coastal Community Bank unit will become a sponsor bank for Dave's existing products and its new ExtraCash offering, the companies said.

Customers are set to transition to Coastal Community Bank as early as Q2, they added.

Shares of Dave were down 7.2% in recent trading, while Coastal Financial was slightly higher.

Price: 93.44, Change: -7.22, Percent Change: -7.17