dave spac investor presentation

fueling marketing spend 21Instant access to high-impact, low-CAC products More users and more data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no The public and private warrants of VPCC are accounted for as liabilities and the changes in Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook.io. 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. 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). Dave Users have recorded in aggregate $300-400mm / 16 Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. If we are unable to acquire new customers and retain our current customers 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 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 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug 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 1 18 Based on third-party consumer research commissioned by Dave. In a deal valued at $3.6B (4.9x 2022E revenue) VPCC is taking Dave, a Leading Banking App with 10 Million Customers, public. any exemption under the Securities Act. securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. registration statement on Form S-4 is expected to be filed by VPCC with the SEC. notifications regarding violations, limits on activities or functions, remediation of practices, external compliance monitoring and civil money penalties. Users can opt for free advances (1-3 days) or optional We also share in fees charged for out-of-network ATM express fees for faster delivery withdrawals Users also provide voluntary tips Additionally, we generate ancillary revenue from Insights, contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). 15 Initial investment in the form of $2 million convertible business. 1Q22 Shareholder Letter 9.1 MB. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may Source: Dave Management. This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and should not be assumed to be, complete or to constitute all the 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 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market Best In Class Management Team + Strong Risk Management Long-Term Commitment to Dave 1 Financial Industry Longstanding Investment Relationship Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. 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. Neither VPCCs nor Daves independent 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 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 dated March 4, 2021 (SEC File No. We It is not intended to form the 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. 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 Such projected financial information constitutes forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. transactions between Dave and VPCC. 53.1% 22.7% 30.4% 31.2% 37.0% 37.6% 45.6% 2023E 41.4% 64.3% 40.4% 30.1% 27.7% 21.9% 23.1% 27.3% 42.8% 2 Growth-Adjusted Revenue Multiples 2022E 0.10x 0.11x 0.23x 0.46x 0.64x 0.57x 0.46x 0.41x 0.25x 2023E 0.16x 0.09x 0.21x 0.27x 0.55x 0.66x 0.60x The list below is qualified in obligations could harm our business by resulting in litigation, fines, penalties, or 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 If our present or any future key banking relationships are Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability of its banking platform with modest user adoption costs 17. Facility contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. 01/30/2023 08:00 AM ET. Investor Presentation | Virgin Orbit and subject to change. all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 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 Presentations :: Aurora Innovation, Inc. (AUR) If we are unable to acquire new customers and retain our current customers or sell additional functionality and services to them, our revenue growth will be valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. The deal was announced in October. including (i) the occurrence of any event, change, or 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 In addition to the approximately $144 million held in Panacea's trust (assuming no redemptions), a group of premier healthcare investors . 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 playing. Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. our financial position and results of operations. We operate in an uncertain regulatory environment and may from time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. To the fullest extent permitted by law, in no by the CFPB. 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 Information concerning the interests of VPCCs and Daves participants in the and significant pain Up to $200 of ExtraCash point for users without the fees Flagship feature, a pioneer in reinventing overdraft for Americans in 2017 Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. 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 Neither The cost of responding to investigations can be substantial and an adverse growing needs, and if we are not able to grow efficiently, our operating results could be harmed. Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. These statements are based on various 1 Unique users historically rss_feed RSS financial condition and results of operations. 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, competition, the ability of Dave to grow and manage providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. 34 slides. FinTech Dave Inc. merged with the publicly traded special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings III Inc. and will go public on Nasdaq on or about on Thursday (Jan.. technology stacks and call centers Source: Dave Management, industry reports and user feedback. Neither Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. 1 Dave users have taken over 30mm of overdraft Wheels Up Experience Inc. - Investor Relations ANY REPRESENTATION TO THE CONTRARY IS According to an investor presentation, the company generated $122M in revenue in 2020. AeroFarms home The Vertical Farming, Elevated Flavor company The risks presented below are certain of the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. 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. 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. Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and user feedback. 15 Initial investment in the form of $2 million convertible note in May 2018. financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. 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? 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. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 2023E 41.4% 64.3% 40.4% 30.1% 27.7% 21.9% 23.1% 27.3% 42.8% 2 Growth-Adjusted Revenue Multiples 2022E 0.10x 0.11x 0.23x 0.46x 0.64x 0.57x 0.46x 0.41x 0.25x 2023E 0.16x 0.09x 0.21x 0.27x 0.55x 0.66x 0.60x 0.45x 0.19x Source: Dave Management, consummation of the Proposed Business Combination is subject to a number of conditions and if those conditions are not satisfied or waived, the Proposed Business Combination agreement may be terminated in accordance with its terms and the Proposed 02/28/2023 11:00 AM ET. under the Securities Act. and liabilities to Dave or inhibit sales of our products. 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. Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. Access the audio replay here. consummation of the Proposed Business Combination, the Combined Company will incur significant increased expenses and administrative burdens as a public company, which could negatively impact its business, financial condition and results of The combination between Victory Park Capital's blank-check company and the banking app Dave is expected to be complete by the third or fourth quarter. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Katapult Transaction. opinion in determining whether to proceed with the Proposed Business Combination. connection with the Proposed Business Combination. furnished by Dave and VPCC, with the U.S. Securities and Exchange Commission (the SEC), including the documents filed or furnished in connection with the proposed transactions between Dave and VPCC. qualification under the securities laws of any such jurisdiction. Dave, a Leading Banking App with 10 Million Customers, Announces Plans 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 Q1 2022 Earnings Supplement 562.6 KB. Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs Proposed Business Combination. 11 Cant Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in 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 Such persons can reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. SEC Filings | Dave Inc. all of the regulations applicable to traditional banks. offering of securities (the Securities) will not be registered under the Securities Act of 1933, as amended (the Securities Act), and will be offered as a private placement to a limited number of institutional predict and may differ from assumptions and such differences may be material. in VPCCs final prospectus dated March 4, 2021 (SEC File No. 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 Companys Securities, may You can review a SPAC's proxy, information or tender offer statement in the SEC's EDGAR database. 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 rights or the right of the applicable 333-252577), which was filed with the SEC on March 8, 2021. 2, Disclaimer INDUSTRY AND MARKET DATA Although all information and intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based 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. SPAC Presentation Deck by Dave. 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 Investor Relations. PCAOB standards. While VPCC and Dave believe that their Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 15.6x 15.1x 14.5x 2022E Peer Median: 13.9x 13.7x 12.2x 12.2x 11.6x 2023E Peer Median: 10.5x 10.4x 9.4x 9.1x 8.7x 8.1x 8.0x 6.7x 5.5x 1 DaveFUSEIPOEFTCVUPSTSQLPROAFRMAPT-AU Revenue Growth 2022E 95.2% 79.2% Some of the financial information and data 1 Gross profit is net of COGS which includes processor fees, bad 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and 28 charitable contributions. 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. licensor to these trademarks, service marks and trade names. sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. understanding of user No visibility into users behavior over 30B Unsophisticated approach historical income and transactions; use Machine based on legacy 3 Data & Tech spending patterns; limits Learning to deliver fast and technology 31, 2020 is unaudited, preliminary and subject to change. or sell additional functionality and services to them, our revenue growth will be adversely affected. / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22Saving (Q2 Q3) Banking Dec 2020 Side Hustle Nov 2018 ExtraCash / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22, Highly Experienced Management Team Jason Wilk Kyle Beilman John Wolanin Best In Class Management Team + Strong Risk Management Long-Term Commitment to Dave 1 Financial Industry Longstanding Investment Relationship since 2018 Unparalleled Business Diligence $100 million Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in or adverse public health developments, including government responses to such events. USE OF PROJECTIONS This Presentation contains projected financial information. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are SoFi Q4 2022 Earnings Conference Call. Viewers of this Presentation should each make their own evaluation of operations. Learn More. existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year Transforming stability into long-term progress by achieving major financial milestones. 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. We obtained this information and statistics from third-party Investor Relations. Dave, a Leading Banking App with 10 Million Customers, Announces Plans Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. Dave | SPAC Presentation Deck | Slidebook.io Dave to Participate at Upcoming Investor Conferences Transcript. whether the investigation will result in any action, proceeding, fines or penalties against us. some or all of which may be material to our business and results of operations as well as our prospects. Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E 2022E 2023E Nothing herein should be construed as legal, financial, tax or other advice. 1 Unique users historically measured as connected bank accounts. January 5, 2021. Powered by a global private aviation marketplace connecting its growing base of approximately 13,000 members and customers to a network of more than 1,500 safety-vetted and verified private aircraft, Wheels Up is widening the aperture of private travel for millions of consumers globally. that advances Americas collective potential 1 Based on Center for Financial Services Innovation. RISKS 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 . fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. To the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. EBITDA is defined as earnings 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:. Investors want to invest in big opportunities with large addressable markets. target or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. Changes in laws or regulations, or a failure to After the Form S-4 has been filed and declared effective, the definitive proxy statement/prospectus will be mailed to VPCCs stockholders as of a record date to be

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