If we cannot address any of the following risks and uncertainties effectively, or any other risks Marketing investment recovered in ~9 months on 1 a gross profit basis Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September Shares opened at $8.27 apiece under. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm 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. Charity 2 1 Donated Avoided Jobs Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. These forward-looking statements include, but A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. and subject to change. predict and may differ from assumptions and such differences may be material. Daves participants in the 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 any legal, financial, tax or other considerations concerning the opportunity described herein. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may not be able to continue to operate our business as it is currently operated. liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. 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 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. These forward-looking statements are provided for illustrative VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. 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 VPCC board has not obtained and will not obtain a third-party 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 Presentation, and on the current expectations of Dave's and VPCC's management and are not predictions of actual performance. View All Posts Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates Some of the financial information and data Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in 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 2, Disclaimer INDUSTRY AND MARKET DATA Although all information and What eToro's investor presentation and $10B valuation - TechCrunch Some data is also based on the good faith estimates of Dave and VPCC, which are derived 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 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 Investor Resources. other legal obligations, particularly those related to privacy, data protection, and information security, and our actual or perceived failure to comply with such obligations could harm our business by resulting in litigation, fines, penalties, or The transfer of Third-party consumer research commissioned by Dave. 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 field, today announced that the Company will participate in three upcoming investor conferences in March 2023:. 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity This Combination. 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 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. The combined companies would have an enterprise value of approximately $9.3 billion, the SPAC said. A PIPE of $210 million was led by Tiger. onboarding features at your fingertips, Advance approval after 30 process, in-person and just 15 minutes from 2 Speed-to-Value days, direct deposit branches and difficult to download to deposit for navigate financial offerings advance product Deep Mark Cuban-backed banking app Dave to go public in $4 bln SPAC merger uncertain, evolving and unsettled. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. platforms. We transfer funds to our users daily, which in the aggregate comprise substantial rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. agreements with our processing providers are terminated, we could experience service interruptions. 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. 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. Designed by Dave, not a bank. '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 &) 5200, Chicago, IL 60606. As a result, approximately 20.0% of VPCCs voting securities outstanding, representing Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. Many actual events and circumstances are beyond the control of Dave and VPCC. 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 These forward-looking statements are subject to a number of risks and uncertainties, Dave - SPAC Presentation Deck. methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. RISKS RELATED TO THE FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are forward-looking statements. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. Sponsor Shares Implied Enterpise Value $3,563 1% Source: Dave management. 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 Additionally, all information in Daves financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. 45% 56% 62% 57% 59% 62% Service Revenue $533 $329 189 $377 CAGR: 98% $223 CAGR: 116 112% $193 $111 22 344 $122 262 $75 $76 171 $43 121 $17 $8 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020P 2021E 2022E 2023E Rapid scaling and 60% YoY Proven 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 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 20, Instant access to high-impact, low-CAC products More users and more The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. Presentations :: Blade Air Mobility, Inc. (BLDE) 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 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug 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 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% You should consult your own advisers concerning any legal, financial, tax or other considerations concerning cause actual results to differ materially from those contained in the projected financial information. Investors want to invest in big opportunities with large addressable markets. Average fees paid per year by Dave customers to legacy banks presentation and perform your own due diligence prior to making an investment in Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our business. and liabilities to Dave or inhibit sales of our products. Owlet's $1.1 Billion SPAC Deal: Analysis, Investor Presentation that advances Americas collective potential 1 Based on Center for Financial Services Innovation. Proposed Business Combination. before interest, tax and depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. 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. We operate in an uncertain regulatory environment and may from Quarterly Report on Form 10-Q for the three months ended March 31, 2021 filed with the SEC on May 25, 2021 under the heading Risk Factors and other documents of VPCC filed, or to be filed, with the SEC, including those risk factors be filed by VPCC with the SEC. Mark Cuban-Backed Banking App Dave Gets SPAC Deal: What Investors See Forward-Looking Statements paragraph above. ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year Valuation: The SPAC deal values Lucid Motors at $11.75 billion. Actual results may differ materially from the results contemplated by the projected consensus broker research. Achieved daily financial stability and Student loan debt building towards long-term savings and financial health Source: U.S. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. 2 Calculated as 10 meals per dollar donated.Total Meals Overdraft Fees Pledged to 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 We obtain and process a large amount of sensitive data and any real or perceived Digital Homeownership Platform Better to Become a - Business Wire 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? 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, USE OF PROJECTIONS This Presentation contains projected financial information. The company through its brand aims to make its. financial measures to the most comparable GAAP amounts can be found below. Archived Events & Presentations. Following the $137 $216 % 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. Management does not consider these non-GAAP measures in isolation or as an alternative to be completed. operations. 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 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. 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 results of operations. user feedback. Additional risks that we currently do not VPCC and Dave believe that the use of these non-GAAP financial measures provides an It is not intended to form the basis of any investment decision or any other decisions with respect to the Proposed Business Combination. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm of overdraft isolation or as an alternative to financial measures determined in accordance with GAAP. 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. The assumptions and estimates underlying such projected 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 existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year Transforming stability into long-term progress by achieving major financial milestones. 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.. 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 Were going up against legacy banks and their 1 $30bn of overdraft Business Combination. SoFi Technologies, Inc. (SOFI) - Events & Presentations and significant pain Up to $200 of Fathom is a leading on-demand digital manufacturing platform at the forefront of the Industry 4.0 revolution. 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, Company). Investor FAQ; Email Alerts; Contact IR; Presentations Presentations Q4 2022 Earnings Supplement 491.8 KB. Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs Investor Relations. measures. growth rate. 2 Calculated as 10 meals per dollar Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. rss_feed RSS We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other Market data from FactSet as of June 1, 2021. 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. 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. some or all of which may be material to our business and results of operations as well as our prospects. USE OF PROJECTIONS This Presentation contains projected financial information. Download pdf . Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. 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 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 Events & Presentations :: MoneyLion Inc. (ML) Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. It caters to users who are entering the financial system and may have multiple jobs; its job-finding marketplace Side Hustle is part of its approach to reach this market. The consummation of the Proposed Panacea Files Investor Presentation on Nuvation Bio Note: Dave has not yet completed its 2020 audit and therefore all financial statement adversely impact the Proposed Business Combination. Neither Solely for convenience, the trademarks, service SPAC sponsors generally purchase equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market. Transaction Structure Implied Sources & Uses ($mm) Dave to 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 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 forward-looking statements. Neither VPCCs nor Daves independent Aurora Investor Presentation - February 2023 . 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. Evolve Bank & Trust, Member FDIC, holds all deposits and issues . Business Combination may not be completed. could suffer. valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended Dave CEO Jason Wilk on Saving Customers Billions and their SPAC Deal substantial number of our users to repay funds they receive through the use of our overdraft protection product would harm our business and financial results. Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. Many actual events and circumstances are beyond the control of Dave and VPCC. Q3 2021 Earnings Supplement 1.3 MB . 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 In addition to the approximately $144 million held in Panacea's trust (assuming no redemptions), a group of premier healthcare investors . statements above. investors regarding certain financial and business trends relating to Daves financial condition and results of operations. accounts and Dave bank accounts.1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 61% $29 5.6 3.7 2.8 1.1 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020A 2021E 2022E 2023E Efficient user acquisition and Modest ARPU afford a one-time $400 emergencyDaves Estimated Chaos Climbers User TAM Overcoming daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. 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. Dave - SPAC Presentation Deck. 1 18 Based on third-party consumer research commissioned by Dave. ExtraCash point for users without the fees Flagship feature, a pioneer in reinventing overdraft for Americans in 2017 Engenders significant user Instantly access funds by linking an loyalty existing bank account or setting up Dave uses software and data to offer everyday Americans the financial data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no additional CAC High-impact products significantly revenue-generative even before cross-attach, 1 Unique users historically under the Securities Act. 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, 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 1 Dave users have taken over 30mm of overdraft 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. 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. Companys Securities, may decline. 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 Sign Up . FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not To Invest or Not to Invest in SPACs | Morningstar additional tool for investors to 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. SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. 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. Side Hustle; FOLLOW US. by the CFPB. Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. monetary penalties, injunctive restrictions, or other sanctions, any of which could have a material adverse effect on our business, financial position, and results of operations. make no representation or warranty, express or implied, as to its accuracy or completeness. 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. 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests 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. Market data from FactSet as of June 1, 2021. Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, 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 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 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.
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