dave spac investor presentation

financing, and not for any other purpose. We are not currently subject to all of the regulations applicable to traditional banks. We obtained this information and statistics from third-party To the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. and multitude of associated steps four steps Multiple user-friendly Antiquated onboarding features at your fingertips, Advance approval after 30 process, in-person and just 15 minutes from 2 Speed-to-Value days, direct deposit branches and difficult completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. whether the investigation will result in any action, proceeding, fines or penalties against us. results of operations. 3, Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Chief Forward-looking statements may Panacea Acquisition today filed an investor presentration on merger partner Nuvation Bio, which is focused on developing cancer treatments. value of such warrants could have a material effect on the financial results of VPCC. contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. SPAC Presentation Deck by Dave. loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. donated. Viewers of this Presentation should each make their own evaluation of The "Market Opportunity" Slide of the Pitch Deck. Management does not consider these non-GAAP measures in Investors should carefully consider the Investor Tools. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). rss_feed RSS other illegal activity involving our products and services could lead to reputational damage to us, reduce the use of our platform and services and may adversely affect our financial position and results of operations. ANY REPRESENTATION TO THE CONTRARY IS reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. A CRIMINAL OFFENSE. assurance with respect thereto for the purpose of this Presentation. Sign Up. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. Neither 1 Unique users historically measured as connected bank accounts. FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE 01/30/2023 08:00 AM ET. of its banking platform with modest user adoption costs 17Solving Legacy Pain Points Building a Better Bank No Overdraft or Minimum Balance Insights Fees Access Paycheck 2 Days Early ExtraCash Empowering On- Demand Overdraft Protection Side Hustle Changes in laws or regulations, or a failure to Cash Flow Positive Plan Presentation 1.4 MB. These statements are based on various Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business In addition, forward-looking statements reflect VPCCs and Daves expectations, plans or forecasts of future events and views as of the date of this Presentation. Q3 2022 Earnings Supplement 958.9 KB. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. LOS ANGELES, March 02, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (the "Company") (NASDAQ:DAVE, DAVEW)), one of the leading U.S. neobanks on a mission to build products that level the financial . transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market 20ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) increases dramatically as users attach to Dave Bank ARPU Uplift reflects mix of new bank (first twelve mos) $43 revenue and increased Nasdaq. We may not be able to scale our business quickly enough to meet our users growing needs, and if we are not able to grow efficiently, our operating results could be Nothing herein should be construed as legal, financial, tax or other advice. 1 18 Based on third-party consumer research commissioned by Dave. Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. VPCCs nor Daves independent auditors have audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly, neither of them expressed an depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. operations as a result of the announcement and consummation of the Proposed Business Combination; (viii) the ability to recognize the anticipated benefits of the Proposed Business Combination, which may be affected by, among other things, Dave, Inc. has guaranteed The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. be filed by VPCC with the SEC. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, Neither Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. all of the regulations applicable to traditional banks. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Dave Users have recorded in aggregate $300-400mm / 16 other similar epidemics or adverse public health developments, including government responses to such events. document does not contain all the information that should be considered concerning the Proposed Business Combination and is not intended to form the basis of any investment decision or any other investment decision in respect of the Business The use or display of third parties Source: Dave Management. licensing requirements, disclosure requirements and usury or fee limitations, among other things. The financial services industry continues to be targeted by new laws or regulations in many jurisdictions, including the U.S. since 2018 Unparalleled Business Diligence $100 million existing credit facility ESG $30mm PIPE investment from VPC and its limited partners Note: Registration with the SEC does not imply a certain level of skill or and subject to change. FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated VPCC and Dave urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus included in the Form S-4 and, when available, the amendments thereto and the definitive proxy Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 02/28/2023 11:00 AM ET. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are forward-looking statements. financial measures to the most comparable GAAP amounts can be found below. Structure Implied Sources & Uses ($mm) Dave to merge with VPCC through a reverse-subsidiary merger Sources Dave to become a wholly-owned subsidiary of VPCC, which will be Existing Dave Shareholder Equity $3,500 renamed Dave and be Source: Dave Management projections. valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. connection with the operation of their respective businesses. 2020 is unaudited, preliminary and subject to change. The use or display of third parties trademarks, service marks, trade names These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. EBITDA is defined as earnings Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. remediation of practices, external compliance monitoring and civil money penalties. Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. 1 18 Based on third-party consumer research direct deposit Utilized over 30mm times since product launched in 2017 Improves budgeting and financial 1 $1B of overdraft fees saved management skills Source: Dave Management. Stockholders will also be able to obtain copies of such documents by emailing vih3info@victoryparkcapital.com or by directing a request to VPCC secretary at c/o Victory Park Capital 06/21. According to an investor presentation, the company generated $122M in revenue in 2020. received a Civil Investigative Demand (the CID) from the U.S. Bureau of Consumer Financial Protection (the CFPB), the stated purpose of which is to determine whether there is or has been a violation of any laws enforced Some data is also based on the good faith estimates of Dave and VPCC, which are derived 24 slides. Dave. Sep Oct Nov Dec Jan Feb Mar Apr May 2021A 2020A No concerted marketing effort all in-app Broad marketing campaign supported demand from existing users by targeted marketing to existing users Source: Dave Management. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. . Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020. The list below is qualified in 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm of overdraft Chief Financial Officer Senior Partner & Co-Founder Executive Officer Joined Dave in 2017 Co-founded VPC in 2007 Founded Dave in 2017 Heads Finance & Operations Serial Entrepreneur 4. Management does not consider these non-GAAP measures in isolation or as an alternative to Any 254 PIPE 210 2 PIPE Investment Existing Net Cash on Balance Sheet 35 Proposed $210mm PIPE investment in Dave in connection with the Total Sources $3,999 business combination Uses Tiger Global leading PIPE investment, with NEW YORK-- ( BUSINESS WIRE )--Better HoldCo, Inc. (" Better " or the " Company "), one of the fastest-growing digital homeownership platforms in the U.S., and Aurora Acquisition Corp. (NASDAQ:. undertakes certain compliance obligations. or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based, except as required by law. Investor Presentation. The VPCC board has not obtained and will not obtain a third-party See Forward-Looking Statements paragraph above. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Daves financial statements. Dave, Transaction Structure Implied Sources & Uses ($mm) Dave to combined business. As defined by the US Securities and Exchange Commission, a SPAC is a company with no operations that offers securities for cash and places substantially all the offering proceeds into a trust or escrow account for future use in the acquisition of one or more private operating companies. Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. 0.45x 0.19x Source: Dave Management, consensus broker research. 25% 50% Bank A Challenger 20% 28% 48% Bank B Very Favorable Somewhat Favorable 4.8 ~1M #1 1 Most Favored Brand App Store Rating Reviews in the Industry Source: Third-party consumer research commissioned by Dave. Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. terminated and we are not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. thresholds (25% of all founder shares). A data security breach could expose us to liability and protracted and costly litigation, and could adversely affect our reputation and operating revenues. regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. obtain or maintain the listing of the combined companys common shares on the New York Stock Exchange or Nasdaq following the Proposed Business Combination; (vii) the risk that the Proposed Business Combination disrupts current plans and Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. afford a one-time $400 emergencyDaves Estimated Chaos Climbers User TAM Overcoming daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People the opportunity described herein. Download pdf . 2021 Annual Shareholder Letter 12 MB. Information concerning the interests of VPCCs and time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. In addition, this Quarterly Report on Form 10-Q for the three months ended March 31, 2021 filed with the SEC on May 25, 2021 under the heading Risk Factors and other documents of VPCC filed, or to be filed, with the SEC, including those risk factors Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September USE OF PROJECTIONS This Presentation contains projected financial information. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their & Tech spending patterns; limits Learning to deliver fast and technology stack user offering inexpensive solutions #1 favorable opinion of ~20pp behind Dave in user Negative NPS scores for 4 Beloved 1 1 consumer finance apps satisfaction large Fraudulent activity involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. Solving Legacy Pain Points Building a Better Bank No Overdraft or Additional risks that we currently do not Margin 20% 38% 38% 27% 36% 40% Marketing Spend 5 23 38 61 124 187 EBITDA ($2) $6 $8 ($9) $12 $29 % Margin (11%) 8% 7% (5%) 3% 5% Source: Dave Management. 25Service presentation and perform your own due diligence prior to making an investment in Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our business. statement/prospectus as well as other documents filed with the SEC in connection with the Proposed Business Combination, as these materials will contain important information about VPCC, Dave, and the Proposed Business Combination. Such persons can The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. Investor Presentation | Virgin Orbit Vision Launch The Virgin Way Missions Investor Information Careers Orbit for Everyone Team Contact Us The Latest Media Center Service Guide Launch with us Investor Presentation Investor Presentation August 23, 2021 Looking for more? financial condition and results of operations. Financial Officer Senior Partner & Co-Founder Executive Officer Joined Dave in 2017 Co-founded VPC in 2007 Founded Dave in 2017 Heads Finance & Operations Serial Entrepreneur 4Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief We of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Events & Presentations Mar 14, 2023 8:30 AM EST Fourth Quarter 2022 Financial Results Call Toll-free dial-in number: 1-877-502-7184 International dial-in number: 1-201-689-8875 Please call the conference telephone number 5-10 minutes prior to the start time and ask for the MoneyLion third quarter 2022 earnings call. Dave Terms of Use Link4 Designed by Dave, not a bank. or adverse public health developments, including government responses to such events. Information concerning the interests of VPCCs and Daves participants in the Aside from offering a comprehensive and competitive benefits package, we're also committed to fostering an inclusive environment for personal growth, creating challenges for career development, and providing opportunities for fun along the way. Failure by us, or any of our business partners, to comply with applicable laws and regulations could have a material adverse effect on our business, financial position and results of operations. Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs substantial sums, and are subject to the risk of errors, which could result in financial losses, damage to our reputation, or loss of trust in our brand, which would harm our business and financial results. Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. additional CAC High-impact products significantly revenue-generative even before cross-attach, fueling marketing spend 21, Saving (Q2 Q3) Banking Dec 2020 Side Hustle Nov 2018 ExtraCash However, banking products made available through Dave by our bank partner remain subject to regulation and supervision by banking regulators and Dave, as a service provider to its bank partner, VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a assurance that VIH III will be able to raise sufficient capital in the Private Placement to consummate the Proposed Business Combination or for use by the combined company following the Proposed Business Combination (the Combined Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. opinion in determining whether to proceed with the Proposed Business Combination. The loss of such key personnel could negatively impact the operations and financial results of the decrease revenue) and, in the event of retroactive application of such laws, subject us to litigation or enforcement actions that could result in the payment of damages, restitution, monetary penalties, injunctive restrictions, or other sanctions, Investor Relations. ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year user feedback. 34RISKS RELATED TO DAVES BUSINESS (Contd) Failure by a We aim to transform weight management through our proprietary biomimetic technology. 333-252577), which was filed with the SEC on March 8, 2021. EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x qualification under the securities laws of any such jurisdiction. Combination when it becomes available. The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. NO REPRESENTATION OR WARRANTY No representations or warranties, express or implied are given in, or in respect of, the accuracy or The risks presented below are certain of Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or states we operate in, that could restrict the products and services Dave offers, impose additional compliance costs on Dave, render its current operations unprofitable or even prohibit its current operations. vote by VPCCs stockholders in connection with the Proposed Business Combination and other matters as described in the Form S-4, as well as a prospectus of VPCC relating to the offer of the securities to be issued in connection with the May tap While KBW Fintech Payments Conference. To Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are BlackSky SPAC Investor Presentation Analysis | Merger with SFTW, Osprey Technology | Space Spac Time in the Market 604 subscribers Subscribe 14 Share Save 795 views 1 year ago An analysis of. listing standards of the NYSE or Nasdaq. Katapult Transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in Investor Relations. The financial services industry continues to be targeted by The SPAC Deal: Dave announced a SPAC deal with VPC impact Acquisition Holdings III VPCC , valuing the former at a pro forma equity value of $4 billion. make no representation or warranty, express or implied, as to its accuracy or completeness. regulatory approvals, or the satisfaction of other conditions to closing in the Merger Agreement; (iv) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Merger Agreement or could otherwise Note: Dave has not yet completed its 2020 audit and therefore all financial Q3 2022 Earnings Presentation. Our recent rapid growth, including growth in our volume of payments, may not be indicative of future growth, and if we continue to grow rapidly, we may not be able to manage our growth effectively. employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. AeroFarms home The Vertical Farming, Elevated Flavor company Investors want to invest in big opportunities with large addressable markets. 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with Dave or VPCC, or an endorsement or sponsorship by or of Dave or VPCC. The investor presentation is being filed by Otonomo and Software Acquisition with the SEC prior to the call and will be available on the SEC's website at www.sec.gov. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or Track Record of Investing in FinTech Underpenetrated Market Executed over 60 FinTech transactions since inception Meaningful Barriers to Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC Such persons can also read VPCCs final prospectus dated March 4, 2021 (SEC File No. COMPANY. The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. Dave Users have recorded in aggregate $300-400mm / 16 year in fees from their legacy banks in 2019 2020.

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