dave spac investor presentation

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 charitable contributions. investment decision in respect of the Business Combination. We obtain and process a large amount of sensitive data and any real or perceived The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products offered by financial technology companies such as Dave is often protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. Danny Meyer May Democratize IPOs with SPAC Investment in Panera - Yahoo! We may never achieve or sustain profitability. All references to Dave, we, us or our refer to the business of Dave Inc. and its consolidated subsidiaries. 12/21. Dave Users have recorded in aggregate $300-400mm / 16 115 Across all relevant mobile Combination (the Merger Agreement) and the Proposed Business Combination, and approval of the other proposals to be described in the proxy statement relating to the Proposed Business Combination. 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 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. 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven If we are unable to acquire new customers and retain our current customers 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 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. SoFi Q4 2022 Earnings Conference Call. 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity offered by financial technology companies such as Dave is often uncertain, evolving and unsettled. 33RISK FACTORS The below list of risk factors has been prepared solely for purposes of the proposed private placement financing (the Private 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. VPC Impact Drops on Dave Deal, More SPAC Votes Ahead adversely affected. use in evaluating projected operating results and trends in and in comparing Daves financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. 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. reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. The loss of such key personnel could negatively impact the operations and financial results of the combined business. 68% Peer-to-Peer B 30% 33% 63% Bank A 26% 29% 55% Bank B 25% 29% 54% Challenger 25% 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: Presentation does not purport to be all inclusive or to contain all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. Dec. 2020+ Source: Dave Management. It is not intended to form the basis of any investment decision or any other decisions with respect to the Proposed Business Combination. 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.. connection with the operation of their respective businesses. Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Source: Dave Management projections. Our fraud detection and Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. 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 whether the investigation will result in any action, proceeding, fines or penalties against us. immaterial that could also cause actual results to differ from those contained in the forward-looking statements. 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. Note: Dave has not yet completed its 2020 audit and therefore NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. COMPANY. 1 Capital Raised / Users Acquired Dave: $6 Other Neobanks: $75-100 10M constitute a solicitation as defined in Section 14 of the Securities Exchange Act of 1934, as amended. PARTICIPANTS IN THE SOLICITATION VPCC, Dave and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies Investor Tools. Average fees paid per year by Dave customers to legacy banks We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. Information concerning the interests of VPCCs and 1 Gross profit is net of COGS which Placement) as part of the proposed business combination of VPC Impact Acquisition Holdings III, Inc. (VPCC) and Dave Inc. (the Proposed Business Combination), and solely for potential investors in the proposed 1 Unique users historically Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards.Figures in $mm 2018A 2019A 2020P EBITDA ($2) profitability. RELATED TO THE PROPOSED BUSINESS COMBINATION VPCCs directors and officers have potential conflicts of interest in recommending that VPCCs stockholders vote in favor of the adoption of the merger agreement relating to the The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products Dave | SPAC Presentation Deck | Slidebook.io 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. Note: Dave has not yet completed its 2020 audit and therefore all financial statement Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. 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, June 2021 (34 slides) 1 of . 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:. 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 EBITDA is defined as earnings proposed transactions between Dave and VPCC, and may differ significantly from and be more extensive than those presented below. information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. situations or financial needs. 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 includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 45% 56% 62% 57% 59% 62% Service 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. 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, 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 Changes in laws or regulations, or a failure to comply with any laws and How To Create A Great Investor Pitch Deck For Startups Seeking - Forbes Even if VPCC consummates the business combination, there can be no assurance that VPCCs public warrants will be in the money during their exercise period, and they may expire worthless. 1 Unique users historically measured as connected bank accounts. Dave, a Leading Banking App with 10 Million Customers, Announces Plans Phased Launch To Date Has Allowed for User Positioned for Rapid Scaling We operate in an uncertain regulatory environment and may from 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. The assumptions and estimates underlying such projected financial information are inherently uncertain SEC Filings | Dave Inc. Our rapid growth also makes by the CFPB. 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 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 Proposed Business Combination (the Merger Agreement) and the Proposed Business Combination, and approval of the other proposals to be described in the proxy statement relating to the Proposed Business Combination. the VPCC voting securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. Overview | Sonder Holdings Inc. Transcript. Webcast. 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 Combination. Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs included in the proxy statement/prospectus contained in the registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. Changes in laws or regulations, or a failure to The issuance of shares of the Combined Companys securities in connection with the Private Placement will substantially dilute the voting power of the Combined Companys stockholders. 10, Daves Estimated Chaos Climbers User TAM Overcoming Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. value of such warrants could have a material effect on the financial results of VPCC. Nothing herein should be construed as legal, financial, tax or other advice. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are We are not currently subject to all of the regulations applicable to traditional banks. The company through its brand aims to make its. We obtained this information and statistics from third-party Investors should be aware that they might be required to bear the final risk of Marketing investment recovered in ~9 months on 1 a gross profit basis 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. Aurora Investor Presentation - February 2023 . 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. 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 licensing requirements, disclosure requirements and usury or fee Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. Accordingly, the Securities must continue to be held unless a subsequent While VPCC and Dave believe that their 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. VPCC and Dave believe that these non-GAAP financial measures provide useful information to management and Companys Securities, may decline. prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. 115 Across all relevant mobile platforms.Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% 68% Peer-to-Peer B 30% 33% 63% Bank A 26% 29% 55% Bank B 25% 29% 54% Challenger 25% Business Combination may not be completed. Any 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) There is no guarantee that a stockholders decision whether to redeem its shares for a pro rata portion of the trust account will put the stockholder in a better future economic position. unaudited, preliminary and subject to change. 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 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 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. Sponsor Shares Implied Enterpise Value $3,563 1% Source: Dave management. Investor Presentation (March 2023) 21.8 MB. 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 and subject to change. differences may be material. Viewers of this Presentation should each make their own evaluation of 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 20, Instant access to high-impact, low-CAC products More users and more USE OF PROJECTIONS This Presentation contains projected financial information. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is 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? Events & Presentations :: MoneyLion Inc. (ML) Evolve Bank & Trust, Member FDIC, holds all deposits and issues . Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. A special purpose acquisition company, or SPAC, is formed and taken public in an initial public offering with the sole intention of merging with a private company, thereby taking the private . those contained in the projected financial information. PDF AeroFarms home The Vertical Farming, Elevated Flavor company Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are forward-looking statements. 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 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 statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other cause actual results to differ materially from those contained in the projected financial information. If the Proposed Business 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, Rewards, and Side Hustle Source: Dave Management. efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. 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 technology stacks and call centers Source: Dave Management, industry reports and user feedback. depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. 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. Dave, Inc. has guaranteed opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. rss_feed RSS most vulnerable customers footprints Onerous regulatory requirements (capital, interchange) constrain investment Mediocre digital user experience Legacy and antiquated technology stacks and call centers Source: Dave Management, industry reports and RISKS RELATED TO THE PRIVATE PLACEMENT Source: Dave Management. are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT Investor Resources. 34 slides. competition, the ability of Dave to grow and manage growth profitably, and retain its key employees; (ix) costs related to the Proposed Business Combination; (x) changes in applicable laws or regulations; (xi) the possibility that Dave, or VPCC may 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 VPCC and Dave believe that these non-GAAP financial measures provide useful adversely impact the Proposed Business Combination. As a result, approximately 20.0% of VPCCs voting securities outstanding, representing the VPCC voting 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. Actual results may differ materially from the results contemplated by the projected accredited investors as defined in Rule 501(a)(1), (2), (3) or (7) under the Act and Institutional Accounts as defined in FINRA Rule 4512(c).

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