dave spac investor presentation

Solely for convenience, the trademarks, service The largest investor in Dave has been Victory Park Capital, a global investment firm headquartered in Chicago and the parent company of the SPAC that Dave is merging with. 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 Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based services they need, at Solves immediate breakthrough speed and pricing. 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations Allscreen Supported by World-Class Investors 23, Service Revenue Transaction Revenue ExtraCash: Dave Bank: We generate registration statement on Form S-4 is expected to be filed by VPCC with the SEC. Dave Users have recorded in aggregate $300-400mm / 16 marks and trade names referred to in this Presentation may appear with the , TM or SM symbols, but such references are not intended to indicate, in any way, that Dave or VPCC will not assert, to the fullest extent under applicable law, their If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry necessary to continue providing our users with new and innovative products and services, 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. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash product. following the announcement of the Merger Agreement and the transactions contemplated therein; (iii) the inability to complete the Proposed Business Combination, including due to failure to obtain approval of the stockholders of VPCC, certain Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and Average fees paid per year by Dave customers to legacy banks 2020 is unaudited, preliminary and subject to change. rss_feed RSS cause the transaction to fail to close; (v) the impact of the COVID-19 pandemic on Daves business and/or the ability of the parties to complete the Proposed Business Combination; (vi) the inability to obtain or maintain the listing of the protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. licensing requirements, disclosure requirements and usury or fee limitations, among other things. All subsequent written data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no additional CAC High-impact products significantly revenue-generative even before cross-attach, opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. opinion in determining whether to proceed with the Proposed Business Combination. our financial position and results of operations. June 7 (Reuters) - Billionaire Mark Cuban-backed Dave said on Monday it would go public through a merger with a blank-check firm sponsored by investment firm Victory Park Capital, valuing the. Investor Relations. If the Proposed Business Combinations benefits do not meet the expectations of investors or securities analysts, the market price of our securities or, following the consummation of the Proposed Business Combination, the Combined shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this Presentation, its To Dec. 2020+ Source: Dave Management. 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 to download to deposit for navigate financial offerings advance product Deep 2022E 2023E Total Revenue $17 $76 $122 $193 $377 $533 % Growth -- 340% 60% 59% 95% 41% 1 Gross Profit $8 $43 $75 $111 $223 $329 % Margin 45% 56% 62% 57% 59% 62% Operating Expenses (ex. However, banking products made available through Dave by our bank partner remain subject to regulation and supervision adverse publicity and reputational damage that may negatively affect the value of our business, and compliance with such laws could also result in additional costs and liabilities to Dave or inhibit sales of our products. The list below is qualified in 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting thresholds (25% of all founder shares).Transaction Some data is also based on the good faith estimates of Dave and VPCC, which are derived of the following risks and uncertainties effectively, or any other risks and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. RISKS financial condition and results of operations. NO OFFER OR SOLICITATION This Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. The public and private warrants of VPCC are accounted for as other circumstances that could give rise to the termination of the Agreement and Plan of Merger, dated June 7, 2021 (the Merger Agreement); (ii) the outcome of any legal proceedings that may be instituted against VPCC and Dave daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by Archived Events & Presentations. the use of our platform and other products and services could decline. risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. with respect to a potential business combination between Dave Inc. (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business 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 dave-to-go-public-in-4-billion-spac . We operate in an uncertain regulatory environment and may from If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry All subsequent written and oral forward-looking statements concerning VPCC or Dave, the transactions described herein or other matters and attributable to VPCC, Dave or any person acting on their behalf are Viewers of this Presentation should each make their own evaluation of Investor Presentation Merger Agreement or could otherwise cause the transaction to fail to close; (v) the impact of the COVID-19 pandemic on Daves business and/or the ability of the parties to complete the Proposed Business Combination; (vi) the inability to Many actual events and circumstances are beyond the control of Dave and VPCC. 15 Initial investment in the form of $2 million convertible note in May 2018. 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 The combined companies would have an enterprise value of approximately $9.3 billion, the SPAC said. We depend upon several third-party service providers for processing our amendments thereto and the definitive proxy 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 revenue when our users engage in cash We receive debit interchange fees when users pay with advances for overdraft protection their Dave debit card or fund their account via Debit rails Users can opt for free advances (1-3 days) or optional We also Investor FAQ; Email Alerts; Contact IR; Presentations Presentations Q4 2022 Earnings Supplement 491.8 KB. Total Revenue $17 $76 $122 $193 $377 $533 % Growth -- 340% 60% 59% 95% 41% 1 Gross Profit $8 $43 $75 $111 $223 $329 % Margin 45% 56% 62% 57% 59% 62% Operating Expenses (ex. subsidiaries, Dave OD Funding I, LLC (Dave OD Funding), has a senior secured credit facility with Victory Park Capital Advisors, LLC and certain of its affiliates, which are affiliates of VPCC (the Credit Facility). Shares opened at $8.27 apiece under. 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests as security holders in the consummation of the any exemption under the Securities Act. 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. specific product, or a solicitation of any vote or approval, nor shall there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. USE OF PROJECTIONS This Presentation contains projected financial information. basis of any investment decision or any other decisions with respect to the Proposed Business Combination. be completed. As a result, investors should be aware that although most of the . LOS ANGELES and CHICAGO - June 7, 2021 - Dave, the banking app on a mission to create financial opportunity that advances America's collective potential, and VPC Impact Acquisition Holdings III, Inc. (NYSE: VPCC) ("VPCC"), a special purpose acquisition company sponsored by Victory Park Capital ("VPC"), today announced that they have entered into 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. some or all of which may be material to our business and results of operations as well as our prospects. which any statement is based, except as required by law. Our rapid growth also makes The cost of responding to investigations can be substantial and an adverse resolution to an investigation, including a settlement or consent order, may have a material adverse effect on our business, financial position, and results of operations us View All Posts There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are immaterial that could also cause actual results to differ from Dave - SPAC Presentation Deck. 0.28 -0.00 ( -1.62% ) Vol: 76,441. Aurora Analyst & Investor Day Presentation . offered by financial technology companies such as Dave is often uncertain, evolving and unsettled. Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. This 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. Acquisition Company ("SPAC") GigCapital4's IPO was completed in February 2021 Led by a proven management team of experienced entrepreneurs and executives Deep public company management and board experience Extensive global network of TMT business professionals and investors Proven experience with M&A, strategy and technology of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Panacea Acquisition today filed an investor presentration on merger partner Nuvation Bio, which is focused on developing cancer treatments. 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 Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, training. immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Jarad Fisher Shannon Sullivan Chien Chou CEO CFO Co-founder CCO CPO EVP Engineering Serial Entrepreneur Mia Alexander John Ricci Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations To the extent that our products are deemed to be subject to any such laws, we could be subject to additional compliance obligations, including state and liabilities to Dave or inhibit sales of our products. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash Investors should carefully consider the risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. 03/22. financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. Management does not consider these non-GAAP measures in 06/21. Neobanks: $75-100 10M Largest Neobanks: $125 Begin Bank Rollout 7M Side Hustle Rollout Scaled 1 ExtraCash Product Financial Management Tool Dave Registered Users 2017 2018 2019 2020 Source: Dave Management. 2019 2020. Allows users to confidently track First neobank to help users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial 24 slides. should make such other investigations as they deem necessary. Our The risks presented in such filings This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary 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. ~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 The loss of such key personnel could negatively impact the operations and financial results of the combined business. 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 by the CFPB. avoiding ~$35 overdraft fee from their legacy bank. USE OF PROJECTIONS This Presentation contains projected financial information. The Credit Facility contains Fraudulent and Transaction Structure Implied Sources & Uses ($mm) Dave to will be consistent with those that would be required for a public company in its SEC filings, including with respect to the business and securities of Dave and VPCC and the proposed transactions between Dave and VPCC, and may differ significantly Has Allowed for User Positioned for Rapid Scaling 2Q21 & Beyond Feedback and Product Optimization ~31% penetration 1.3 mm Dave Bank Users Projected Dave Bank Users of Dave user base 1.2 mm 1.1mm 943k ~95% CAGR 784k 633k 273k 176k 141k 128k 114k Investing in securities (the Securities) to be issued in connection with the Proposed Business Combination The risks described below year in fees from their legacy banks in 2019 2020.Dave uses software and data to offer everyday Americans the financial services they need, at Solves immediate breakthrough speed and pricing. Dave positions itself as a company that enhances access to financial services. 2Disclaimer This presentation (together with oral statements made in connection herewith, this Presentation) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation In a deal valued at $3.6B (4.9x 2022E revenue) VPCC is taking Dave, a Leading Banking App with 10 Million Customers, public. If our present or any future key banking relationships are 6 3 Maximum proceeds to select existing adversely impact the Proposed Business Combination. the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. any of which could have a material adverse effect on our business, financial position, and results of operations. Such persons can Fraudulent activity Economic, political and other conditions may adversely affect trends in consumer spending. 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 decline. Q3 2022 Earnings Presentation. A data security breach could expose us to liability and protracted and TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of Amid all the news of the last few days, you might have missed that eToro, an Israeli consumer stock-trading service, is going public in the United States via a SPAC.. Don't worry about the SPAC . A CRIMINAL OFFENSE. Combination. notifications sent Highlights focus on community- to users to prevent overspending based approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in $137 $216 % 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. the Securities Exchange Act of 1934, as amended. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, VPCCs (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business Combination) and for no other purpose. Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace Additionally, all information in Daves Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606. Nothing herein should be construed as legal, financial, tax or other advice. as security holders in the consummation of the Proposed Business Combination. Investors should carefully consider the Transforming stability into long-term progress by achieving major financial milestones. Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. Fraudulent and 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 from and be more extensive than those presented below. 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 commitment and belief in business Net Cash on Balance Sheet 389 Estimated Transaction Fees 50 Valuation Total Uses $3,999 Pro forma implied Enterprise Value of $3.6bn, which equates to 9.4x 2022E revenue of $377mm 4 Pro Forma Ownership Pro The company through its brand aims to make its. situations or financial needs. Additionally, all information in Daves financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. EBITDA is defined as earnings other similar epidemics or adverse public health developments, including government responses to such events. We transfer funds to our users daily, which in the aggregate comprise VPCCs stockholders in connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. Aurora Investor Presentation - February 2023 . 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting 2021 Annual Shareholder Letter 12 MB. Largest Neobanks: $125 Begin Bank Rollout 7M Side Hustle Rollout Scaled 1 ExtraCash Product Financial Management Tool Dave Registered Users 2017 2018 2019 2020 Source: Dave Management. Source: Dave Management projections. Investor Presentation (March 2023) 21.8 MB. regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. 1 Dave users have taken over 30mm of overdraft protection advances, typically involves a high degree of risk. 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 completion of the Proposed Business Combination. Our fraud detection and See Forward-Looking Statements paragraph above. Minimum Balance Insights Fees Access Paycheck 2 Days Early ExtraCash Empowering On- Demand Overdraft Protection Side Hustle Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability investors regarding certain financial and business trends relating to Daves financial condition and results of operations. 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, intend, expect, 25Service All references to Dave, we, us or our refer to the business of Dave Inc. and debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. 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 Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is Note: Dave has not yet completed its 2020 audit and therefore all financial statement Mr. Meyer's SPAC, USHG Acquisition Corp. (ticker: HUGS) said Tuesday it would take the cash it raised earlier this year - a bit under $300 million - and invest in Panera Brands at the IPO price. 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 NO REPRESENTATION OR WARRANTY No representations or warranties, 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. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY One of our wholly-owned Revenue Transaction Revenue ExtraCash: Dave Bank: We generate revenue when our users engage in cash We receive debit interchange fees when users pay with advances for overdraft protection their Dave debit card or fund their account via Debit rails 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? RISKS RELATED TO THE Dave's Benefits & Perks We understand how important it is to get key benefits and perks from an employer. 02/28/2023 11:00 AM ET. in VPCCs final prospectus dated March 4, 2021 (SEC File No. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. BigBear.ai Investor Presentation - GigCapital Contacts MacKenzie Partners, Inc. 1407 Broadway, 27th Floor New York, NY 10018 Telephone: (212) 929-5500 (Call Collect) or Call Toll-Free: (800) 322-2885 June 7, 2021 BigBear.ai Investor Presentation all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. 1 Gross profit is net of COGS which Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any proxy statement to be filed by VPCC with the SEC. The company has attracted institutional investors. Additional risks that we currently do not know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations.

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