dave spac investor presentation

Dec. 2020+ Source: Dave Management. 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. 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 Phased Launch To Date Has Allowed for User Positioned for Rapid Scaling 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 and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. Q2 2022 Earnings Supplement 510.8 KB. We are a biotherapeutics company built for consumer engagement. 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:. SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. Dave uses software and data to offer everyday Americans the financial NO REPRESENTATION OR WARRANTY No representations or warranties, express or implied are given in, or in respect of, the accuracy or platform and our business could suffer. Management does not consider these non-GAAP measures in 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in 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. decline. that may be instituted against VPCC and Dave 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 Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. standards. Following the 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, Login. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. 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. 6 3 Maximum proceeds to select existing EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 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 Cohn Robbins Holdings Revises Investor Presentation on $9.3B Allwyn ExtraCash ExtraCash Recent bank revenue trends for Solving Crucial Daily Financial Direct Deposit cohorts suggest Pain Points Platform upside over time on engagement and revenue Where weve been Where were going Since inception However, banking products made available through Dave by our bank partner remain subject to regulation and supervision There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are 2Q22 Shareholder Letter 6.5 MB. 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 The list below is qualified in its entirety by disclosures contained in future documents filed or 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 qualification under the securities laws of any such jurisdiction. 333-252577), which was filed with the SEC on March 8, 2021. The VPCC board has not obtained and will not obtain a third-party 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 The risks presented in such filings 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 We are cooperating with the CFPB, including producing documents and providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. 5200, Chicago, IL 60606. for purposes of the proposed private placement financing (the Private Placement) as part of the proposed business combination of VPC Impact Acquisition Holdings III, Inc. (VPCC) and Dave Inc. (the Proposed Business FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not any of which could have a material adverse effect on our business, financial position, and results of operations. accounts and Dave bank accounts.1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 61% $29 5.6 3.7 2.8 1.1 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020A 2021E 2022E 2023E Efficient user acquisition and Modest ARPU 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm 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. Solely for convenience, the trademarks, service The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial commissioned by Dave.Dave Other Neobank Incumbent User Journey User Journey Bank User Journey Frictionless access to a Walled Garden approach; can only access products with a variety of products in just 1 Ease of Access bank account The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. information to management and investors regarding certain financial and business trends relating to Daves financial condition and results of operations. avoiding ~$35 overdraft fee from their legacy bank. Consumer Finance Startup Dave Eyes Acquisitions, Crypto After SPAC Deal Webcast. Jarad Fisher Shannon Sullivan Chien Chou CEO CFO Co-founder CCO CPO EVP Engineering Serial Entrepreneur Mia Alexander John Ricci Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 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 consensus broker research. 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 Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB ~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 Investor Relations. 25Service Note: Dave has not yet completed its 2020 audit and therefore all financial 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 What eToro's investor presentation and $10B valuation - TechCrunch any exemption under the Securities Act. 6 3 Maximum proceeds to select existing employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. USE OF PROJECTIONS This Presentation contains projected financial information. 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 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 Advisors, LLC, 150 North Riverside Plaza, Suite How To Create A Great Investor Pitch Deck For Startups Seeking - Forbes or sell additional functionality and services to them, our revenue growth will be adversely affected. engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and ExtraCash ExtraCash Recent bank revenue trends for Solving Crucial Daily Financial Direct Deposit cohorts suggest Pain Points Platform NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE See Forward-Looking Statements paragraph above. 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.. PDF Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace SPACs explained | Fidelity 9 Key Takeaways From The Lucid Motors SPAC Merger 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 penalties against us. 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 45% 56% 62% 57% 59% 62% Service Revenue $533 $329 189 $377 CAGR: 98% $223 CAGR: 116 112% $193 $111 22 344 $122 262 $75 $76 171 $43 121 $17 $8 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020P 2021E 2022E 2023E Rapid scaling and 60% YoY Proven VPCCs sponsor, directors Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, Dave | SPAC Presentation Deck | Slidebook.io Any offering of securities (the Securities) will not be registered under the Securities Act of 1933, as amended (the Securities Act), and will be offered There can be no assurance that the Combined Companys common stock will be approved for listing on the NYSE or Nasdaq or that the Combined Company will be able to comply with the continued all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. 62 slides. harmed. comply with any laws and regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. Presentations | Dave Inc. OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. 1 Affirm estimates showing fiscal year ending in June. Katapult Transaction :: FinServ Acquisition Corp. (FSRV) 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. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 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 rights or the right of the applicable We transfer funds to our users daily, which in the aggregate comprise Jobs at Dave - Fintech Careers - Current Openings Sign Up . 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. financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties, including many that are outside of VPCCs or Daves control, that could The use or display of third parties Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 $137 $216 % connection with the Proposed Business Combination. KBW Fintech Payments Conference. improper or unauthorized use of, disclosure of, or access to such data could harm our reputation as a trusted brand, as well as have a material adverse effect on our business. the opportunity described herein. Sponsor Shares Implied Enterpise Value $3,563 1% Source: Dave management. 1 Gross profit is net of COGS which includes processor fees, bad Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. financial information contained in this Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such information will be achieved. 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. We may never achieve or sustain situations or financial needs. should not be assumed to be, complete or to constitute all the information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. transactions. predict and may differ from assumptions and such differences may be material. Presentations | Sonder Holdings Inc. 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. 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. by the CFPB. obligations or undertaking to release publicly any updates 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 Its . Combination. 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. If you hold public warrants of VPCC, VPCC may, in accordance with their terms, redeem your unexpired VPCC warrants prior to their exercise at a time that is disadvantageous to you. Dave Other Neobank Incumbent User Journey User Journey Bank User 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 May tap into the gig economy for extra help Existing bank relationship ~100- not helping 120mm Getting Living paycheck-to- All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics 1 18 Based on third-party consumer research The ability to successfully effect the Proposed Business Combination and the Combined Companys ability to successfully operate the business thereafter will be largely dependent upon the Many actual events and circumstances are beyond the control of Dave and VPCC. Dave - SPAC Presentation Deck. 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 Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. 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. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other specific product, or a solicitation of any vote or approval, nor shall 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 . Investor Tools. risk control mechanisms may not prevent all fraudulent or illegal activity. Forward-looking statements may Presentations :: Aurora Innovation, Inc. (AUR) At this time, we are unable to predict the outcome of this CFPB investigation, including The list below is qualified in 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. 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 Gelesis, Inc. Investor Relations Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, uncertain, evolving and unsettled. opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Dave and VPCC have not independently verified the information and Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. Investors should carefully consider the 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 Presentations :: Blade Air Mobility, Inc. (BLDE) 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 Sign Up. 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 know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. We obtain and process a large amount of sensitive data and any real or perceived 34RISKS RELATED TO DAVES BUSINESS (Contd) Failure by a increases dramatically as users attach to Dave Bank ARPU Uplift reflects mix of new bank (first twelve mos) $43 revenue and increased engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and remediation of practices, external compliance monitoring and civil money penalties. depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. Changes in laws or regulations, or a failure to Q3 2021 Earnings Supplement 1.3 MB . Dave Terms of Use Link4 Designed by Dave, not a bank. & 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 Special purpose acquisition companies (SPACs) have become a preferred way for many experienced management teams and sponsors to take companies public. Market data from FactSet as of June 1, 2021. View All Posts 2021 Annual Shareholder Letter 12 MB. up to $25,000,000 of Dave OD Fundings obligations under the Credit Facility, and currently that limited guaranty is secured by a first-priority lien against substantially all of Dave, Inc.s assets. 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. from and be more extensive than those presented below. views as of the date of this Presentation. For example, in May 2020, we 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash 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. 34. Download pdf . participation from Wellington Management Existing Dave Shareholder Equity $3,500 3 VPC and LPs contributing significant capital, highlighting ongoing Cash to Existing Dave Shareholders 60 2 commitment and belief in business Net Cash on These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). 19Phased Launch To Date 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 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. Fraudulent activity services they need, at Solves immediate breakthrough speed and pricing. overdraft fees saved management skills Source: Dave Management. Currently, founder and CEO of Dave, a leading challenger bank focused on lifting the collective potential of America. Business Combination may not be completed. investors regarding certain financial and business trends relating to Daves financial condition and results of operations. platforms. measures. 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 11 Cant afford a one-time $400 emergency. 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. Were going up against legacy banks and their 1 $30bn of overdraft of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. June 2021 (34 slides) 1 of . 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

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