11 Cant A CRIMINAL OFFENSE. Source: Dave Management. You should consult your own advisers concerning Were going up against legacy banks and their 1 $30bn of overdraft Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020. An oversubscribed PIPE deal that saw shares priced at $15 . . Facebook; Twitter; . transactions between Dave and VPCC. Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. make no representation or warranty, express or implied, as to its accuracy or completeness. Such projected financial information constitutes 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. 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 Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is Nasdaq. 7. 2 Calculated as 10 meals per dollar Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. / 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 know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics In addition, forward-looking statements reflect VPCCs and Daves expectations, plans or forecasts of future events and Forma Cash 1 87% Existing Dave Shareholders $389mm of net cash held on the pro forma balance sheet Capitalization PIPE Shareholders Implied Market Capitalization $3,951 SPAC Shareholders 5% 2 (-) Net Cash on Balance Sheet (389) 6% SPAC BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY 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. 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 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). donated. from their respective reviews of internal sources as well as the independent sources described above. 1 Unique users historically measured as connected bank accounts. 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 Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. Dave, NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE Marketing investment recovered in ~9 months on 1 a gross profit basis 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. Neither Nothing herein should be construed as legal, financial, tax or other advice. 62 slides. We are subject to governmental regulation and other legal obligations, particularly those related to privacy, data protection, and information security, and our actual or perceived failure to comply with such Source: Dave management. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 1 18 Based on third-party consumer research 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. financial condition and results of operations. 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 This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and Information concerning the interests of VPCCs and Daves participants in the 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 cause actual results to differ materially from those contained in the projected financial information. You can review a SPAC's proxy, information or tender offer statement in the SEC's EDGAR database. 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. Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs standards. Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB be completed. Q3 2021 Earnings Supplement 1.3 MB . Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in 2019 2020. Fraudulent activity business. We depend upon several third-party service providers for processing our transactions. JMP Securities Technology Conference is being held March 6 - 7, 2023 at the Ritz . operations. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. One of our wholly-owned subsidiaries, Dave OD If any of our agreements with our processing providers are terminated, we could experience service interruptions. SPAC Presentation Deck by Dave. 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. 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. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. 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 use or display of third parties This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other immaterial that could also cause actual results to differ from those contained in the forward-looking statements. 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. 3Q22 Shareholder Letter 5.8 MB. VPCCs sponsor, directors 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 . May tap One of our wholly-owned any legal, financial, tax or other considerations concerning the opportunity described herein. 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 by the CFPB. Accordingly, the Securities must continue to be held unless a subsequent Business Combination. 1 Dave users have taken over 30mm of overdraft future, outlook, 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. licensor to these trademarks, service marks and trade names. If any of our Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our business. Dave and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. We may never achieve or sustain Daves financial statements. The CFPB has broad enforcement powers, and upon determining a violation of applicable law has occurred can order, among other things, rescission or 34. the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. This document does not contain all the information that should be considered concerning the Proposed Business Combination and is not intended to form the basis of any investment decision or any other Investor Presentation. PARTICIPANTS IN THE The financial services industry continues to be targeted by new laws or regulations in many jurisdictions, including the U.S. views as of the date of this Presentation. risk control mechanisms may not prevent all fraudulent or illegal activity. Third-party consumer research commissioned by Dave. 01/30/2023. 2020 is unaudited, preliminary and subject to change. Nothing herein should be construed as legal, financial, tax or other advice. Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) and minimum balance fees Massive and expensive brick / mortar ($10) for the 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). completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are limitations, among other things. 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 contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. Phased Launch To Date Has Allowed for User Positioned for Rapid Scaling terminated and we are not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. the VPCC voting securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. 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. liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. A data security breach could expose us to liability and protracted and 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. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm of overdraft Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of Aurora Investor Presentation - February 2023 . scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. 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 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 Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. 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 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.. Combination when it becomes available. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in The public and private warrants of VPCC are accounted for as liabilities and the changes in 2021 Annual Shareholder Letter 12 MB. Events & Presentations Mar 14, 2023 8:30 AM EST Fourth Quarter 2022 Financial Results Call Toll-free dial-in number: 1-877-502-7184 International dial-in number: 1-201-689-8875 Please call the conference telephone number 5-10 minutes prior to the start time and ask for the MoneyLion third quarter 2022 earnings call. The loss of such key personnel could negatively impact the operations and financial results of the combined business. 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. 0.45x 0.19x Source: Dave Management, consensus broker research. USE OF PROJECTIONS This Presentation contains projected financial information. Our rapid growth also makes Some data is also based on the good faith estimates of Dave and VPCC, which are derived from their respective reviews of internal sources as well as the The risks presented in such filings Any 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. 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% 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 improvement cross-sell a competitive advantage builds in upside over forecast period Source: Dave Management should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, 'lvfodlphu 'lvfodlphuv dqg 2wkhu ,psruwdqw ,qirupdwlrq 7klv suhvhqwdwlrq wklv 3uhvhqwdwlrq lv surylghg iru lqirupdwlrqdo sxusrvhv rqo\ dqg kdv ehhq suhsduhg wr dvvlvw lqwhuhvwhg sduwlhv lq pdnlqj wkhlu rzq hydoxdwlrq zlwk uhvshfw wr d srwhqwldo exvlqhvv frpelqdwlrq ehwzhhq &) We transfer funds to our users daily, which in the aggregate comprise substantial 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 Companys Securities, may decline. Allows users to confidently track First neobank to help Presentations. The "Market Opportunity" Slide of the Pitch Deck. penalties against us. depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, 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 Our fraud detection and AeroFarms home The Vertical Farming, Elevated Flavor company adversely affected. If our present or any future key banking relationships are 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. 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 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 as security holders in the consummation of the Proposed Business Combination. PCAOB standards. 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, Neither Transcript. 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 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 user feedback. 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. 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 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. 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. Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. 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. 1 minute read. All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. 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 Market data from FactSet as of June 1, 2021. Dave uses software and data to offer everyday Americans the financial 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 Many actual events and circumstances are beyond the control of Dave and VPCC. The risks presented below are certain of The deal gives Dave a $4 billion valuation, which is quite a boost from the company's 2019 valuation of $1 billion,. necessary to continue providing our users with new and innovative products and services, the use of our platform and other products and services could decline. 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. 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 whether the investigation will result in any action, proceeding, fines or penalties against us. Investors should be aware that they might be required to bear the final risk of 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. valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. thresholds (25% of all founder shares). 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 1 Gross profit is net of COGS which includes processor fees, bad To On December 18, 2020, FinServ Acquisition Corp. and Katapult Holdings, Inc. jointly announced that they have entered into a definitive merger agreement valued at approximately $1 billion. 25th Annual Needham Growth Conference Presentation . 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash product. 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. 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 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 01/30/2023 08:00 AM ET. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. registration statement on Form S-4 is expected to be filed by VPCC with the SEC. 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 Combination. Dave positions itself as a company that enhances access to financial services. SPAC. Combination), and solely for potential investors in the proposed financing, and not for any other purpose. Source: Dave Management. trademarks, service marks, trade names 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. The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. We obtained this information and statistics from third-party 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, 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. See Virgin Galactic's Fall 2019 Investor Presentation. To the fullest extent permitted by law, in no or adverse public health developments, including government responses to such events.