dave spac investor presentation

Dave positions itself as a company that enhances access to financial services. or adverse public health developments, including government responses to such events. 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 RISKS RELATED TO THE PRIVATE PLACEMENT There can be no 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. Owlet's $1.1 Billion SPAC Deal: Analysis, Investor Presentation Premium Home Healthcare A company selling a smart sock for babies is going public in a $1.1 billion SPAC deal. Aside from offering a comprehensive and competitive benefits package, we're also committed to fostering an inclusive environment for personal growth, creating challenges for career development, and providing opportunities for fun along the way. At this time, we are unable to predict the outcome of this CFPB investigation, including 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 Credit Market data from FactSet as of June 1, 2021. It is not intended to form the The cost of responding to investigations can be substantial and an adverse some or all of which may be material to our business and results of operations as well as our prospects. risk control mechanisms may not prevent all fraudulent or illegal activity. Transforming stability into long-term progress by achieving major financial milestones. 11 Cant afford a one-time $400 emergency. Our Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business 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 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 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 included in the proxy statement/prospectus contained in the In a deal valued at $3.6B (4.9x 2022E revenue) VPCC is taking Dave, a Leading Banking App with 10 Million Customers, public. 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 Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics It is our mission to enable anyone anywhere to participate and succeed in the global . Q3 2022 Earnings Supplement 958.9 KB. 6 3 Maximum proceeds to select existing employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. Nov 9, 2022. If our present or any future key banking relationships are 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. Neither product. 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 However, banking products made available through Dave by our bank partner remain subject to regulation and supervision by banking regulators and Dave, as a service provider to its bank partner, 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 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. 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 some or all of which may be material to our business and results of 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 Dec. 2020+ Source: Dave Management. The public and private warrants of VPCC are accounted for as liabilities and the changes in 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. The "Market Opportunity" Slide of the Pitch Deck. Combination. Business Combination may not be completed. Business Combination. 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: 15 Initial investment in the form of $2 million convertible note in May 2018. 3Q22 Shareholder Letter 5.8 MB. Investors should carefully consider the June 7 (Reuters) - Billionaire Mark Cuban-backed Dave said on Monday it would go public through a merger with a blank-check firm sponsored by investment firm Victory Park Capital, valuing the. We may never achieve or sustain profitability. Nothing herein should be construed as legal, financial, tax or other advice. 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. daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. 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. 25Service The transfer of Designed by Dave, not a bank. 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 Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. 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 Company). 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. These forward-looking statements are provided for illustrative 2Disclaimer This presentation (together with oral statements made in connection herewith, this Presentation) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation Nasdaq. improvement cross-sell a competitive advantage builds in upside over forecast period Source: Dave Management projections. Actual events and circumstances are difficult or impossible to Additionally, all information in Daves financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. VPCC and Dave urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus included in the Form S-4 and, when available, the focus on FinTech Opportunities Dave is the ideal partner for VPCC Established Alternative Investment Manager VPC has invested $6.0 billion in over 120 transactions globally since inception Differentiated High Growth FinTech Strong 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E adversely impact the Proposed Business Combination. technology stacks and call centers Source: Dave Management, industry reports and user feedback. If you hold public warrants of 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 Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not 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 established for voting on the Proposed Business The CFPB has broad enforcement powers, and upon determining a violation of applicable law has occurred can order, among other things, rescission or 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 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 Many actual events and circumstances are beyond the control of Dave and VPCC. 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. 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. The assumptions and estimates underlying such projected 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 Source: Dave management. / 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 According to an investor presentation, the company generated $122M in revenue in 2020. 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. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers VPCC and Dave believe that the use of these non-GAAP financial measures provides an COMPANY. statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. Third-party consumer research commissioned by Dave. We obtained this information and statistics from third-party All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. Solving Legacy Pain Points Building a Better Bank No Overdraft or contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. 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. While and significant pain Up to $200 of Market data from FactSet as of June 1, 2021. know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other Allows users to confidently track First neobank to help These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or Dave, Inc. has guaranteed 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 VPCCs stockholders in connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. NO REPRESENTATION OR WARRANTY No representations or warranties, protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. 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 Fathom is a leading on-demand digital manufacturing platform at the forefront of the Industry 4.0 revolution. We depend upon several third-party service providers for processing our and subject to change. Investor Presentation (March 2023) 21.8 MB. Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. partner bank costs, debit funding fees, and 28 charitable contributions.Marketing investment recovered in ~9 months on 1 a gross profit basis 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected qualification under the securities laws of any such jurisdiction. Sign Up. Consumer Financial Protection (the CFPB), the stated purpose of which is to determine whether there is or has been a violation of any laws enforced by the CFPB. unaudited, preliminary and subject to change. We may not be able to scale our business quickly enough to meet our users 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 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests 1 Affirm estimates showing fiscal year ending in June. Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. NO OFFER OR SOLICITATION This There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are immaterial that could also cause actual results to differ from 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 dave-to-go-public-in-4-billion-spac . The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial 1 Dave users have taken over 30mm of overdraft protection advances, typically 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. The deal was announced in October. 0.45x 0.19x Source: Dave Management, consensus broker research. audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 1 Gross profit is net of COGS which includes processor fees, bad prohibit its current operations. financial measures determined in accordance with GAAP. VPCC and Dave believe that these non-GAAP financial measures provide useful information to management and 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 . 62 slides. liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. its consolidated subsidiaries. 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 Combination) and for no other purpose. 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% 53.1% 22.7% 30.4% 31.2% 37.0% 37.6% 45.6% prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. 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 listing standards of the NYSE or should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, Dave Dave; SPAC Presentation Deck (June 2021) . of the stockholders of VPCC, certain 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 Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. Fraudulent activity 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. Such persons can 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 cause actual results to differ materially from 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 views as of the date of this Presentation. . be completed. We may never achieve or sustain 02/28/2023 11:00 AM ET. 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 1 Gross profit is net of COGS which 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:. December 31, 2020 is unaudited, preliminary and subject to change. Presentations. 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 be adversely affected by other economic, business, and/or competitive factors (xii) and those factors discussed in VPCCs final prospectus filed with the SEC on March 8, 2021 under the heading Risk Factors and VPCCs 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. 01/30/2023. This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and and minimum balance fees Massive and expensive brick / mortar ($10) for the most vulnerable customers footprints Onerous regulatory requirements (capital, interchange) constrain investment Mediocre digital user experience Legacy and antiquated The loss of such key personnel could negatively impact the operations and financial results of the 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. 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. 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. Nothing herein should be construed as legal, financial, tax or other advice. 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. We depend upon several third-party service providers for processing our transactions. donated. The public and private warrants of VPCC are accounted for as 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 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 opinion or provided any other form of The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. Companys Securities, may decline. 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 operations as a result of the announcement To the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. forward-looking statements. 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. As a result, investors should be aware that although most of the . 5200, Chicago, IL 60606. PCAOB standards. 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 . Inc. has guaranteed 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. will be consistent with those that would be required for a public company in its SEC filings, including with respect to the business and securities of Dave and VPCC and the proposed transactions between Dave and VPCC, and may differ significantly Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. 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 333-252577), which was filed with the SEC on March 8, 2021. A data security breach could expose us to liability and protracted and RISKS RELATED TO THE 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 Proposed Business Combination. 2 Calculated as 10 meals per dollar new laws or regulations in many jurisdictions, including the U.S. 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 Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. 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 vote by VPCCs stockholders in connection 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 registration statement on Form S-4 is expected to be filed by VPCC with the SEC. 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 Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates With an expansive national footprint and extensive expertise in both additive and traditional manufacturing, Fathom provides comprehensive product development and manufacturing services to many of the largest and .

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