completion of the Proposed Business Combination. 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 harmed. Special purpose acquisition companies (SPACs) have become a preferred way for many experienced management teams and sponsors to take companies public. 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 - SPAC Presentation Deck. undertakes certain compliance obligations. scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020. 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 For example, in May 2020, we Q1 2022 Earnings Supplement 562.6 KB. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). See Forward-Looking Statements paragraph above. The financial services industry continues to be targeted by Amid all the news of the last few days, you might have missed that eToro, an Israeli consumer stock-trading service, is going public in the United States via a SPAC.. Don't worry about the SPAC . Dave to Participate at Upcoming Investor Conferences We obtain and process a large amount of sensitive data and any real or perceived risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. 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 Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, The risks described below are not the only ones we face. If we are unable to acquire new customers and retain our current customers We may never achieve or sustain profitability. employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. If you hold public warrants of and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. 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. Proposed Business Combination. We transfer funds to our users daily, which in the aggregate comprise decline. Dave Users have recorded in aggregate $300-400mm / 16 Market data from FactSet as of June 1, 2021. Source: Dave management. involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. thresholds (25% of all founder shares). financing, and not for any other purpose. growth rate. 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? Journey Frictionless access to a Walled Garden approach; can only access products with a variety of products in just 1 Ease of Access bank account and multitude of associated steps four steps Multiple user-friendly Antiquated and consummation of the Proposed Business Combination; (viii) the ability to recognize the anticipated benefits of the Proposed Business Combination, which may be affected by, among other things, competition, the ability of Dave to grow and manage As a result, investors should be aware that although most of the . 9 Key Takeaways From The Lucid Motors SPAC Merger valuation or financial opinion in determining whether to proceed with 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 The CFPB has broad enforcement powers, and upon determining a violation of applicable law has occurred can order, among other things, rescission or 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. Its . Dave | SPAC Presentation Deck | Slidebook.io Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our 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. 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 statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 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, Q3 2021 Earnings Supplement 1.3 MB . In addition, forward-looking statements reflect VPCCs and Daves expectations, plans or forecasts of future events and We depend upon several third-party service providers for processing our transactions. 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 Management does not consider these non-GAAP measures in isolation or as an alternative to Solely for convenience, the trademarks, service marks and trade names referred to in user feedback. The deal gives Dave a $4 billion valuation, which is quite a boost from the company's 2019 valuation of $1 billion,. be completed. 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 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 $137 $216 % Company). are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. 34. PDF 'LVFODLPHU - Cantor Fitzgerald Payoneer - Investor Relations You can review a SPAC's proxy, information or tender offer statement in the SEC's EDGAR database. An oversubscribed PIPE deal that saw shares priced at $15 . Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a Note: Dave has not yet completed its 2020 To the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. Our fraud detection and The Form S-4 will include a proxy statement to be distributed to holders of VPCCs common stock in connection with VPCCs solicitation for proxies for the vote by VPCCs stockholders in connection 20, Instant access to high-impact, low-CAC products More users and more 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Economic, political and other conditions may adversely affect trends in consumer spending. Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to should not be assumed to be, complete or to constitute all the information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. The interests of the sponsor. 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 If any of these risks materialize or VPCCs or Daves assumptions These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, 1 Affirm estimates showing fiscal year ending in June. Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. 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, USE OF PROJECTIONS This Presentation contains projected financial information. 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 PARTICIPANTS IN THE Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of How SPAC mergers work: PwC 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 Such projected financial information constitutes Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. 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 The largest investor in Dave has been Victory Park Capital, a global investment firm headquartered in Chicago and the parent company of the SPAC that Dave is merging with. financial information and data contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). as security holders in the consummation of the Proposed Business Combination. also read VPCCs final prospectus dated March 4, 2021 (SEC File No. The public and private warrants of VPCC are accounted for as Accordingly, the Securities must continue to be held unless a subsequent Aspiration Investor Relations 1. Dave to Participate at Upcoming Investor Conferences from and be more extensive than those presented below. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. In addition, this and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. PDF Momentus Investor Presentation - Powering In-Space Transportation You should review the investors 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. VPCC and Dave believe that these non-GAAP financial measures provide useful 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. 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from 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 licensing requirements, disclosure requirements and usury or fee disposition is exempt from the registration requirements of the Securities Act. The Credit Even if VPCC consummates the business combination, there can be no assurance that VPCCs public warrants will be in the money during their exercise period, and they may expire worthless. 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 Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Source: Dave Management projections. Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. If any of our This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. constitute a solicitation as defined in Section 14 of the Securities Exchange Act of 1934, as amended. prohibit its current operations. Solving Legacy Pain Points Building a Better Bank No Overdraft or AeroFarms home The Vertical Farming, Elevated Flavor company We transfer funds to our users daily, which in the aggregate comprise substantial 1 Unique users historically liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. 3, Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Chief 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 protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. The deal was announced in October. 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 Fathom - Investor Relations profitability. 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 Dec. 2020+ Source: Dave Management. financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity The investor presentation is being filed by Otonomo and Software Acquisition with the SEC prior to the call and will be available on the SEC's website at www.sec.gov. as a private placement to a limited number of institutional accredited investors as defined in Rule 501(a)(1), (2), (3) or (7) under the Act and Institutional Accounts as defined in FINRA Rule 4512(c). reformation of contracts, the refund of moneys, restitution, disgorgement or compensation for unjust enrichment, the payment of damages or other monetary relief, public notifications regarding violations, limits on activities or functions, Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E 2022E 2023E unaudited, preliminary and subject to change. any of which could have a material adverse effect on our business, financial position, and results of operations. Digital Homeownership Platform Better to Become a - Business Wire Proposed Business Combination. 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 Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates Any RISKS RELATED TO THE PRIVATE PLACEMENT COMPANY. 10Average fees paid per year by Dave customers to legacy banks Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) Sign Up. since 2018 Unparalleled Business Diligence $100 million existing credit facility ESG $30mm PIPE investment from VPC and its limited partners Note: Registration with the SEC does not imply a certain level of skill or Designed by Dave, not a bank. 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 rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. offering of securities (the Securities) will not be registered under the Securities Act of 1933, as amended (the Securities Act), and will be offered as a private placement to a limited number of institutional Fraudulent activity involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. 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 The Space SPAC: Everything You Need to Know about Virgin Galactic Investor Relations. not be able to continue to operate our business as it is currently operated. Investors should be aware that they might be required to bear the final risk of We are subject to governmental regulation and Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). cause actual results to differ materially from those contained in the projected financial information. Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. connection herewith, this Presentation) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Dave Inc. make no representation or warranty, express or implied, as to its accuracy or completeness. increases dramatically as users attach to Dave Bank ARPU Uplift reflects mix of new bank (first twelve mos) $43 revenue and increased engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and transactions. While These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or 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. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended VPCCs nor Daves independent auditors have audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly, neither of them expressed an banks Source: Dave Management. What Are SPACs and Should I Care? | Morningstar 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 Mr. Meyer's SPAC, USHG Acquisition Corp. (ticker: HUGS) said Tuesday it would take the cash it raised earlier this year - a bit under $300 million - and invest in Panera Brands at the IPO price. 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. RISKS RELATED TO THE PRIVATE PLACEMENT There can be no See Forward-Looking Statements paragraph above. 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 transfer of the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. To 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 financial services industry continues to be targeted by new laws or regulations in many jurisdictions, including the U.S. 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) If we cannot address any of the following risks and uncertainties effectively, or any other risks BigBear.ai Investor Presentation - GigCapital 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.
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