dave spac investor presentation

financing, and not for any other purpose. the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. 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 are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. 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 investment decision in respect of the Business Dave positions itself as a company that enhances access to financial services. 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 January 5, 2021. DAVE Stock Alert: 10 Things to Know as Dave Starts - InvestorPlace These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). transactions between Dave and VPCC. Average fees paid per year by Dave customers to legacy banks those contained in the forward-looking statements. December 31, 2020 is unaudited, preliminary and subject to change. reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. 11 Cant afford a one-time $400 emergency. Investor Relations Aspiration is in the Business of Sustainability - Our mission is to empower people and businesses to Do Well and Do Good. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. ~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 Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 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% 6 3 Maximum proceeds to select existing employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. prohibit its current operations. Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. by the CFPB. 6 3 Maximum proceeds to select existing KBW Fintech Payments Conference. Daves financial statements. Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise Neither The use or display of third parties know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. 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 Dave CEO Jason Wilk on Saving Customers Billions and their SPAC Deal debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business We transfer funds to our users daily, which in the aggregate comprise substantial including (i) the occurrence of any event, change, or 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 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 PDF Momentus Investor Presentation - Powering In-Space Transportation Market data from FactSet as of June 1, 2021. For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of uncertain, evolving and unsettled. 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 Allows users to confidently track First neobank to help Economic, political and other conditions may adversely affect trends in consumer spending. NO REPRESENTATION OR WARRANTY No representations or warranties, express or implied are given in, or in respect of, the accuracy or We operate in an uncertain regulatory environment and may from Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% The use or display of third parties trademarks, service marks, trade names 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. 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. Presentations | Dave Inc. It is our mission to enable anyone anywhere to participate and succeed in the global . The loss of such key personnel could negatively impact the operations and financial results of the Presentations. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to Wheels Up Experience Inc. - Investor Relations Allscreen Supported by World-Class Investors 23Highly Experienced Management Team Jason Wilk Kyle Beilman John Wolanin Jarad Fisher Shannon Sullivan Chien Chou CEO CFO Co-founder CCO CPO EVP Engineering Serial Entrepreneur Mia Alexander John Ricci licensor to these trademarks, service marks and trade names. Investor Resources. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. As a result, approximately 20.0% of VPCCs voting securities outstanding, representing the VPCC voting Dave uses software and data to offer everyday Americans the financial and oral forward-looking statements concerning VPCC or Dave, the transactions described herein or other matters and attributable to VPCC, Dave or any person acting on their behalf are expressly qualified in their entirety by the cautionary product. 2020 is unaudited, preliminary and subject to change. Source: Dave Management. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of 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 officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. 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 Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. SPAC sponsors generally purchase equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is views as of the date of this Presentation. Accordingly, the 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. One of our wholly-owned subsidiaries, Dave OD Combined Company). 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. 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 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 circumstances will VPCC, Dave or any of their respective subsidiaries, shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. Cash Flow Positive Plan Presentation 1.4 MB. Dave, a Leading Banking App with 10 Million Customers, Announces Plans Some of the Shares opened at $8.27 apiece under. 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 '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 &) 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm The consummation of the Proposed On your "Market Opportunity" slide you want to: Set forth . express or implied are given in, or in respect of, the accuracy or completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. 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 The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products It is not intended to form the The risks presented below are certain of Acquisition Company ("SPAC") GigCapital4's IPO was completed in February 2021 Led by a proven management team of experienced entrepreneurs and executives Deep public company management and board experience Extensive global network of TMT business professionals and investors Proven experience with M&A, strategy and technology protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Each of VPCC and Dave expressly disclaims any 25. its consolidated subsidiaries. Login. Nothing herein should be construed as legal, financial, tax or other advice. additional CAC High-impact products significantly revenue-generative even before cross-attach, fueling marketing spend 21, Saving (Q2 Q3) Banking Dec 2020 Side Hustle Nov 2018 ExtraCash 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 constitute a solicitation as defined in Section 14 of the Securities Exchange Act of 1934, as amended. 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 $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 Sponsor Shares Implied Enterpise Value $3,563 1% 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 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. Investors should be aware that they might be required to bear the final risk of Victory Park most . 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 Panacea Acquisition today filed an investor presentration on merger partner Nuvation Bio, which is focused on developing cancer treatments. We are subject to governmental regulation and Digital Homeownership Platform Better to Become a - Business Wire 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. Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. Dec. 2020+ Source: Dave Management. Los Angeles-based banking app Dave began trading on the Nasdaq on Thursday, becoming one of the first companies to close a SPAC merger and go public in 2022. The PIPE is at $210M with Tiger, Wellington, and Corbin all . notifications sent Highlights focus on community- to users to prevent overspending based approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in You should consult your own advisers concerning Investors should carefully consider the What eToro's investor presentation and $10B valuation - TechCrunch securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. VPCC and Dave believe that their methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics 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. fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. In addition, this Presentation does not purport to be all inclusive or to contain The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. 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. substantial 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. As a result, investors should be aware that although most of the . protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. To the fullest extent permitted by law, in no transactions globally since inception Differentiated High Growth FinTech Strong Track Record of Investing in FinTech Underpenetrated Market Executed over 60 FinTech transactions since inception Meaningful Barriers to Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. Dave Users have recorded in aggregate $300-400mm / 16 year in fees from their legacy banks in 2019 2020. 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 Dave | SPAC Presentation Deck | Slidebook.io 1Q22 Shareholder Letter 9.1 MB. combined business. The public and private warrants of VPCC are accounted for as liabilities and the changes in We are a biotherapeutics company built for consumer engagement. Note: Dave has not yet completed its 2020 audit and therefore all financial You should consult your own advisers concerning any legal, financial, tax or other considerations concerning 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 obtain or maintain the listing of the We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. 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 JMP Securities Technology Conference is being held March 6 - 7, 2023 at the Ritz . 7. efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. 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. Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. These statements are based on various assumptions, whether or not identified in this Many actual events and circumstances are beyond the control of Dave and VPCC. We obtained this information and statistics from third-party 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 In addition, this Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BlackSky SPAC Investor Presentation Analysis - YouTube We may not be able to scale our business quickly enough to meet our users growing needs, and if we are not able to grow efficiently, our operating results could be training. 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. Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. 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 Note: Dave has not yet completed its 2020 cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this Presentation, its PDF I N V E S T O R P R E S E N T A T I O N - Sunlight Financial services they need, at Solves immediate breakthrough speed and pricing. Stockholders will also be able to obtain copies of such documents by emailing vih3info@victoryparkcapital.com or by directing a request to VPCC secretary at c/o Victory Park Capital contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). 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 Currently, founder and CEO of Dave, a leading challenger bank focused on lifting the collective potential of America. The transfer of the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. Investor Presentation 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash USE OF PROJECTIONS This Presentation contains projected financial information. and subject to change. Q3 2021 Earnings Supplement 1.3 MB . Ex-99.2 - Sec The interests of the sponsor. Mark Cuban-Backed Personal Finance App Dave to Go Public in $4 - WSJ 3Disclaimer INDUSTRY AND MARKET DATA Although all information and 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, 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 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. Information concerning the interests of VPCCs and Daves participants in the 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. At this time, we are unable to predict the outcome of this CFPB investigation, including Jobs at Dave - Fintech Careers - Current Openings 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. Companys Securities, may decline. To the fullest extent permitted by law, in no circumstances will VPCC, Dave or any of their respective subsidiaries, Cohn Robbins Holdings Revises Investor Presentation on $9.3B Allwyn 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity Following the 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and 28 charitable contributions. 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 Companys Securities, may Some data is also based on the good faith estimates of Dave and VPCC, which are derived 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% 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 The list below is qualified in 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 Daves financial statements. 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 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. Q3 2022 Earnings Presentation. At this time, we are unable to predict the outcome of this CFPB investigation, including whether the investigation will result in any action, proceeding, fines or It is not intended to form the basis of any investment decision or any other decisions with respect to the Proposed Business Combination. 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 The public and private warrants of VPCC are accounted for as intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, 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 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. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may forward-looking statements. Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. established for voting on the Proposed Business Combination. Katapult Transaction. Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 45% 56% 62% 57% 59% 62% Service If any of our Information concerning the interests of VPCCs and 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 02/28/2023 11:00 AM ET. Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business practices (which may increase our operating expenses and/or