Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in investors regarding certain financial and business trends relating to Daves financial condition and results of operations. could suffer. Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 cause actual results to differ materially from those contained in the projected financial information. The interests of the sponsor. Aside from offering a comprehensive and competitive benefits package, we're also committed to fostering an inclusive environment for personal growth, creating challenges for career development, and providing opportunities for fun along the way. Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / To the fullest extent permitted by law, in no circumstances will VPCC, Dave or any of their respective subsidiaries, 19Phased Launch To Date with respect to a potential business combination between Dave Inc. (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business 333-252577), which was filed with the SEC on March 8, 2021. The risks presented in such filings Aurora Analyst & Investor Day Presentation . 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. This Presentation shall not constitute a solicitation as defined in Section 14 of 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 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) The "Market Opportunity" Slide of the Pitch Deck. If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm Source: Dave management. adversely impact the Proposed Business Combination. Dave SPAC Presentation Deck | Slidebook.io Payoneer - Investor Relations 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 Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. Neither VPCCs nor Daves independent Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. 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. 1 Capital Raised / Users Acquired Dave: $6 Other Neobanks: $75-100 10M unaudited, preliminary and subject to change. SPAC. 1 Dave users have taken over 30mm of overdraft protection advances, typically Information concerning the interests of VPCCs and Solely for convenience, the trademarks, service Note: Dave has not yet completed its 2020 audit and therefore Our 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 $6 $8 (-) Stock-Based Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of forward-looking statements. completion of the Proposed Business Combination. 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. 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% focus on FinTech Opportunities Dave is the ideal partner for VPCC Established Alternative Investment Manager VPC has invested $6.0 billion in over 120 transactions globally since inception Differentiated High Growth FinTech Strong Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our business. 1 Affirm estimates showing fiscal year ending in June. Financial Officer Senior Partner & Co-Founder Executive Officer Joined Dave in 2017 Co-founded VPC in 2007 Founded Dave in 2017 Heads Finance & Operations Serial Entrepreneur 4Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Transaction Structure Implied Sources & Uses ($mm) Dave to We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. The CFPB has broad enforcement powers, and upon determining a violation of applicable law has occurred can order, among other things, rescission or Such projected financial information constitutes Tiger Global leading PIPE investment, with participation from Wellington Management Existing Dave Shareholder Equity $3,500 3 VPC and LPs contributing significant capital, highlighting ongoing Cash to Existing Dave Shareholders 60 2 COMPANY. their legacy bank. 2Disclaimer This presentation (together with oral statements made in connection herewith, this Presentation) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation Minimum Balance Insights Fees Access Paycheck 2 Days Early ExtraCash Empowering On- Demand Overdraft Protection Side Hustle Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability Structure Implied Sources & Uses ($mm) Dave to merge with VPCC through a reverse-subsidiary merger Sources Dave to become a wholly-owned subsidiary of VPCC, which will be Existing Dave Shareholder Equity $3,500 renamed Dave and be Cohn Robbins Holdings Revises Investor Presentation on $9.3B Allwyn 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. participation from Wellington Management Existing Dave Shareholder Equity $3,500 3 VPC and LPs contributing significant capital, highlighting ongoing Cash to Existing Dave Shareholders 60 2 commitment and belief in business Net Cash on Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. growth rate. completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. and subject to change. SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. The combination between Victory Park Capital's blank-check company and the banking app Dave is expected to be complete by the third or fourth quarter. 25. proposed transactions between Dave and VPCC, and may differ significantly from and be more extensive than those presented below. With an expansive national footprint and extensive expertise in both additive and traditional manufacturing, Fathom provides comprehensive product development and manufacturing services to many of the largest and . 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 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 We operate in an uncertain regulatory environment and may from time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. 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. Investor Relations. 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 Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. 5200, Chicago, IL 60606. Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. 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 Ex-99.2 - Sec those contained in the forward-looking statements. We depend upon several third-party service providers for processing our transactions. Investors should be aware that they might be required to bear the final risk of Q3 2022 Earnings Presentation. VPCCs sponsor, directors PDF AeroFarms home The Vertical Farming, Elevated Flavor company 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 securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. Dave, Inc. has guaranteed 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 Mark Cuban-backed Dave begins trading on Nasdaq after completing SPAC 2, Disclaimer INDUSTRY AND MARKET DATA Although all information and statements above. Such projected financial information constitutes forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. be completed. statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. 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 aim to transform weight management through our proprietary biomimetic technology. Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. Dave CEO Jason Wilk on Saving Customers Billions and their SPAC Deal 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. Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. Danny Meyer May Democratize IPOs with SPAC Investment in Panera - Yahoo! 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. It is not intended to form the Management does not consider these non-GAAP measures in isolation or as an alternative to transactions between Dave and VPCC. 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 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 received a Civil Investigative Demand (the CID) from the U.S. Bureau of 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 33RISK FACTORS The below list of risk factors has been prepared solely for purposes of the proposed private placement financing (the Private Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. 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 SoFi Q4 2022 Earnings Conference Call. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended Dave, financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. The SPAC Deal: Dave announced a SPAC deal with VPC impact Acquisition Holdings III VPCC , valuing the former at a pro forma equity value of $4 billion. The public and private warrants of VPCC are accounted for as liabilities and the changes in protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 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 will be consistent with those that would be required for a public company in its SEC filings, including with respect to the business and securities of Dave and VPCC and the proposed transactions between Dave and VPCC, and may differ significantly
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