Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, EBITDA is defined as earnings before interest, tax and SPAC Presentation Deck by Dave. Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in 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 333-252577), which was filed with the SEC on March 8, 2021. prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Dave, Inc. has guaranteed Neither VPCCs nor Daves independent 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. Economic, political and other conditions may adversely affect trends in consumer spending. by banking regulators and Dave, as a service provider to its bank partner, undertakes certain compliance obligations. (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business Combination) and for no other purpose. 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. users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial notifications sent Highlights focus on community- to users to prevent overspending based Management does not consider these non-GAAP measures in isolation or as an alternative to The interests of the sponsor. VPCCs If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may established for voting on the Proposed Business Combination. adversely affected. Reconciliations of such non-GAAP Dave, a Leading Banking App with 10 Million Customers, Announces Plans to Become Publicly Traded Company via Merger with VPC Impact Acquisition Holdings III, Inc. Dave's mission is to create. and liabilities to Dave or inhibit sales of our products. As a result, investors should be aware that although most of the . Dave - SPAC Presentation Deck. immaterial that could also cause actual results to differ from those contained in the forward-looking statements. other illegal activity involving our products and services could lead to reputational damage to us, reduce the use of our platform and services and may adversely affect our financial position and results of operations. should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, 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, 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. 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 harmed. 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. Securities must continue to be held unless a subsequent disposition is exempt from the registration requirements of the Securities Act. 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 2021A 2020A No concerted marketing effort all in-app Broad marketing campaign supported demand from existing users by targeted marketing to existing users 24 slides. & 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 SPAC sponsors generally purchase equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market. Source: Dave Management. Source: Dave Management. Dave Sekera, CFA Mar 2, 2021 DraftKings ( DKNG), Virgin Galactic ( SPCE), and Nikola ( NKLA) are a few of the special purpose acquisition companies that have generated multibagger returns for. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). 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 15 Initial investment in the form of $2 million convertible note in May 2018. 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 Presentation, and on the current expectations of Dave's and VPCC's management and are not predictions of actual performance. 0.28 -0.00 ( -1.62% ) Vol: 76,441. These statements are based on various 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 reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. If we cannot address any providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. 1 18 Based on third-party consumer research debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. 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 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. This Presentation shall not constitute a solicitation as defined in Section 14 of All subsequent written IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, a registration statement on Form S-4 is expected to and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. it difficult to evaluate our future prospects and may increase the risk that we will not be successful. We operate in an uncertain regulatory environment and may from Fathom is a leading on-demand digital manufacturing platform at the forefront of the Industry 4.0 revolution. 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 Proposed Business Combination. 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 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 be adversely affected by other economic, business, 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. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). June 2021 (34 slides) 1 of . These statements are based on various assumptions, whether or not identified in this 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 We are not currently subject to RISKS RELATED TO THE PRIVATE PLACEMENT 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 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 . If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from 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. into the gig economy for extra help Existing bank relationship ~100- not helping 120mm Getting Living paycheck-to- HIPP-sters People paycheck By High Income, Paycheck to Paycheck Building credit Forward-looking statements may 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 Proposed Business 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. its entirety by disclosures contained in future documents filed or 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 3Q22 Shareholder Letter 5.8 MB. Combination. 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. While decrease revenue) and, in the event of retroactive application of such laws, subject us to litigation or enforcement actions that could result in the payment of damages, restitution, monetary penalties, injunctive restrictions, or other sanctions, Legal Disclaimers 3 Important Information For Investors and Shareholders; Participants in Solicitation In connection with the proposed business combination, Spartan will be required to file a registration statement (which will include a proxy statement/prospectus of Spartan) and other relevant documents with the If we are unable to acquire new customers and retain our current customers There can be no assurance that VIH III will be able to raise sufficient capital in the Private Placement to consummate the Proposed Business Combination or for use by the combined company following the Proposed Business Combination (the Documents available for download Aspiration Announces Olivia Albrecht as CEO Aspiration Secures $315 Million of New Funding Fourth Quarter 2021 Results Download Third Quarter 2021 Results Download The company through its brand aims to make its. Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs any legal, financial, tax or other considerations concerning the opportunity described herein. 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. and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. The assumptions and estimates underlying such projected to download to deposit for navigate financial offerings advance product Deep understanding of user No visibility into users behavior over 30B Unsophisticated approach historical income and transactions; use Machine based on legacy 3 Data 11 Cant afford a one-time $400 emergency. Here are some key takeaways for investors to consider for Lucid Motors. the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. 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 Forma Cash 1 87% Existing Dave Shareholders efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. 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 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 You should consult your own advisers concerning 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. $6 $8 (-) Stock-Based Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. 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 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 Business Combination may not Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. The transfer of 25. 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 Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020. We are a biotherapeutics company built for consumer engagement. Solely for convenience, the trademarks, service marks and trade names referred to in platform and our business could suffer. of applicable law has occurred can order, among other things, rescission or reformation of contracts, the refund of moneys, restitution, disgorgement or compensation for unjust enrichment, the payment of damages or other monetary relief, public There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are note in May 2018.VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a focus on FinTech Opportunities Dave is the ideal partner for VPCC Established Alternative Investment Manager VPC has invested $6.0 billion in over 120 IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, a 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 banks Source: Dave Management. Company). TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in dave-to-go-public-in-4-billion-spac . 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash or adverse public health developments, including government responses to such events. Actual results may differ materially from the results contemplated by the projected financial information contained in this 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 Market Data In this presentation, we rely on and refer to information and statistics regarding market participants in the sectors in which the Company competes and other industry data. The Credit Facility contains 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 generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, intend, expect, 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 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm 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. 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 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 which any statement is based, except as required by law. operations as a result of the announcement and consummation of the Proposed Business Combination; (viii) the ability to recognize the anticipated benefits of the Proposed Business Combination, which may be affected by, among other things, To the fullest extent permitted by law, in no risk control mechanisms may not prevent all fraudulent or illegal activity. 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. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, Archived Events & Presentations. 2 Calculated as 10 meals per dollar expressly qualified in their entirety by the cautionary statements above. 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 333-252577), which was filed with the SEC on March 8, 2021. 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 and multitude of associated steps four steps Multiple user-friendly Antiquated The Form S-4 will include a proxy statement to be distributed to holders of VPCCs common stock in connection with VPCCs solicitation for proxies for the vote by VPCCs stockholders in connection December 31, 2020 is unaudited, preliminary and subject to change. RISK FACTORS The below list of risk factors has been prepared solely NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE January 5, 2021. The consummation of the Proposed 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. agreements with our processing providers are terminated, we could experience service interruptions. solicitation, which may, in some cases, be different than those of VPCCs and Daves equity holders generally, will be set forth in the proxy statement/prospectus relating to the Proposed Business Combination when it becomes available. 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 Instantly search thousands of Presentation Decks by world-leading companies on Slidebook.io. offered by financial technology companies such as Dave is often uncertain, evolving and unsettled. 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 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 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 Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. 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 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 connection herewith, this Presentation) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Dave Inc. Dec. 2020+ Source: Dave Management. 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. Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. You should review the investors 33RISK FACTORS The below list of risk factors has been prepared solely for purposes of the proposed private placement financing (the Private Some data is also based on the good faith estimates of Dave and VPCC, which are derived independent sources described above. 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, sums, and are subject to the risk of errors, which could result in financial losses, damage to our reputation, or loss of trust in our brand, which would harm our business and financial results. The CFPB has broad enforcement powers, and upon determining a violation involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. platforms. 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from licensor to these trademarks, service marks and trade names. 15 Initial investment in the form of $2 million convertible Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 $137 $216 % Valuation: The SPAC deal values Lucid Motors at $11.75 billion. 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 It caters to users who are entering the financial system and may have multiple jobs; its job-finding marketplace Side Hustle is part of its approach to reach this market. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm of overdraft NO REPRESENTATION OR WARRANTY No representations or warranties, express or implied are given in, or in respect of, the accuracy or Investor Relations. Solely for convenience, the trademarks, service In addition, this These forward-looking statements include, but 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 Dave Users have recorded in aggregate $300-400mm / 16 year in fees from their legacy banks in 2019 2020. views as of the date of this Presentation. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. The assumptions and estimates underlying such projected financial information are inherently uncertain 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:. 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. Nothing herein should be construed as legal, financial, tax or other advice. 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 constitute a solicitation as defined in Section 14 of the Securities Exchange Act of 1934, as amended. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business Neither Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. 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 efforts of certain key personnel The combined companies would have an enterprise value of approximately $9.3 billion, the SPAC said. Download pdf . make no representation or warranty, express or implied, as to its accuracy or completeness. Market data from FactSet as of June 1, 2021. 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 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 Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. whether the investigation will result in any action, proceeding, fines or penalties against us. Investor Relations. donated. The VPCC board has not obtained and will not obtain a third-party valuation or financial Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . 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: Dave Other Neobank Incumbent User Journey User Journey Bank User Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. Investor Presentation 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 These forward-looking statements are provided for illustrative Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login.