Owlet's $1.1 Billion SPAC Deal: Analysis, Investor Presentation platforms. decline. Accordingly, the 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. SEC Filings | Dave Inc. We are not currently subject to 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 which any statement is based, except as required by law. Aurora Investor Presentation - February 2023 . If you hold public warrants of 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 PDF 'LVFODLPHU - Cantor Fitzgerald Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act. 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. 1 Gross profit is net of COGS which Access the audio replay here. 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 Dave users have taken over 30mm of overdraft protection advances, typically While VPCC and Dave believe that their practices (which may increase our operating expenses and/or 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, investment decision in respect of the Business Combination. consummation of the Proposed Business Combination, the Combined Company will incur significant increased expenses and administrative burdens as a public company, which could negatively impact its business, financial condition and results of prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. 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. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of 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. Actual results may differ materially from the results contemplated by the projected financial information contained in this 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. 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. May tap banks Source: Dave Management. These forward-looking statements include, but 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 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 34. 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 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 Webcast. of the following risks and uncertainties effectively, or any other risks and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. PDF Momentus Investor Presentation - Powering In-Space Transportation loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Neither VPCCs nor Daves independent 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 $3,999 business combination Uses Tiger Global leading PIPE investment, with In addition, this 9 Key Takeaways From The Lucid Motors SPAC Merger SoFi Q4 2022 Earnings Conference Call. Some data is also based on the good faith estimates of Dave and VPCC, which are derived from their respective reviews of internal sources as well as the intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, SoFi Technologies, Inc. (SOFI) - Events & Presentations it difficult to evaluate our future prospects and may increase the risk that we will not be successful. completion of the Proposed Business Combination. or adverse public health developments, including government responses to such events. 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. donated. reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) the go-forward publicly traded company SPAC Cash in Trust 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 differences may be material. Presentations. A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. Mark Cuban-backed banking app Dave going public via $4 billion SPAC - CNBC The company through its brand aims to make its. HIPP-sters People paycheck By High Income, Paycheck to Paycheck Building credit Achieved daily financial stability and Student loan debt building towards long-term savings and financial health Source: U.S. Dave Other Neobank Incumbent User Journey User Journey Bank User Many actual events and circumstances are beyond the control of Dave and VPCC. limitations, among other things. Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. Dave Users have recorded in aggregate $300-400mm / 16 should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, Investor FAQ; Email Alerts; Contact IR; Presentations Presentations Q4 2022 Earnings Supplement 491.8 KB. financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. 19Phased Launch To Date 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) On your "Market Opportunity" slide you want to: Set forth . 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. 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 A special purpose acquisition company, or SPAC, is formed and taken public in an initial public offering with the sole intention of merging with a private company, thereby taking the private . Dave to go public via merger with SPAC at $4B valuation The Financial Proposed Business 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. that advances Americas collective potential 1 Based on Center for Financial Services Innovation. overdraft fees saved management skills Source: Dave Management. 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 are not the only ones we face. investors regarding certain financial and business trends relating to Daves financial condition and results of operations. Engenders significant user Instantly access funds by linking an loyalty existing bank account or setting up direct deposit Utilized over 30mm times since product launched in 2017 Improves budgeting and financial 1 $1B of and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). rss_feed RSS 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 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. Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. 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 Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and Danny Meyer May Democratize IPOs with SPAC Investment in Panera - Yahoo! Some of the consummation of the Proposed Business Combination is subject to a number of conditions and if those conditions are not satisfied or waived, the Proposed Business Combination agreement may be terminated in accordance with its terms and the Proposed As a result, approximately 20.0% of VPCCs voting securities outstanding, representing the VPCC voting remediation of practices, external compliance monitoring and civil money penalties. the use of our platform and other products and services could decline. Source: Dave management. The risks described below 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. 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:. 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 comply with any laws and regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. 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 Side Hustle; FOLLOW US. Learn More. 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. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. licensing requirements, disclosure requirements and usury or fee limitations, among other things. We obtain and process a large amount of sensitive data and any real or perceived PDF Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace These forward-looking statements are subject to a number of risks and uncertainties, Viewers of this Presentation should each make their own evaluation of Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity Rewards, and Side Hustle Source: Dave Management. Dave SPAC Presentation Deck | Slidebook.io Management does not consider these non-GAAP measures in isolation or as an alternative to Aspiration Investor Relations ANY REPRESENTATION TO THE CONTRARY IS Companys Securities, may decline. platform and our business could suffer. Dave Inc. (DAVE) Stock Price, News, Quote & History - Yahoo! be filed by VPCC with the SEC. Solely for convenience, the trademarks, service assurance with respect thereto for the purpose of this Presentation. risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. Katapult Transaction :: FinServ Acquisition Corp. (FSRV) VPC Impact Drops on Dave Deal, More SPAC Votes Ahead The financial services industry continues to be targeted by new laws or regulations in many jurisdictions, including the U.S. marks and trade names referred to in this Presentation may appear with the , TM or SM symbols, but such references are not intended to indicate, in any way, that Dave or VPCC will not assert, to the fullest extent under applicable law, their 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.. What You Need to Know About SPACs - Updated Investor Bulletin 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 Such projected financial information constitutes the opportunity described herein. unaudited, preliminary and subject to change. Changes in laws or regulations, or a failure to 31, 2020 is unaudited, preliminary and subject to change. 03/22. Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. We are subject to governmental regulation and While audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. by banking regulators and Dave, as a service provider to its bank partner, undertakes certain compliance obligations. Nothing herein should be construed as legal, financial, tax or other advice. 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 FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated Neither Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. 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 7. adversely affected. 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. If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from 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 Combined sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. 333-252577), which was filed with the SEC on March 8, 2021. transactions between Dave and VPCC. The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products offered by financial technology companies such as Dave is often 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 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. These forward-looking statements are provided for illustrative views as of the date of this Presentation. 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. 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. We are a biotherapeutics company built for consumer engagement. Victory Park most . methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry necessary to continue providing our users with new and innovative products and services, rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. Dave, a Leading Banking App with 10 Million Customers, Announces Plans information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. This Presentation shall not constitute a solicitation as defined in Section 14 of know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. Aurora Analyst & Investor Day Presentation . What eToro's investor presentation and $10B valuation - TechCrunch This Presentation shall not Actual results may differ materially from the results contemplated by the projected 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting thresholds (25% of all founder shares).Transaction 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 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 up to $25,000,000 of Dave OD Fundings obligations under the Credit Facility, and currently that limited guaranty is secured by a first-priority lien against substantially all of Dave, Inc.s assets. Investors should be aware that they might be required to bear the final risk of 2023E 41.4% 64.3% 40.4% 30.1% 27.7% 21.9% 23.1% 27.3% 42.8% 2 Growth-Adjusted Revenue Multiples 2022E 0.10x 0.11x 0.23x 0.46x 0.64x 0.57x 0.46x 0.41x 0.25x 2023E 0.16x 0.09x 0.21x 0.27x 0.55x 0.66x 0.60x 0.45x 0.19x Source: Dave Management, 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. In addition, forward-looking statements reflect VPCCs and Daves expectations, plans or forecasts of future events and Note: Dave has not yet completed its 2020 audit and therefore all financial statement TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. USE OF PROJECTIONS This Presentation contains projected financial information. statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. and liabilities to Dave or inhibit sales of our products. 3, Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Chief Investor Relations Resources & Information Company Overview Sonder is revolutionizing hospitality through innovative, tech-powered service and inspiring, thoughtfully designed accommodations combined into one seamlessly managed experience. 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 Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. The risks described below are not the only ones we face. Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. The list below is qualified in This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and should not be assumed to be, complete or to constitute all the The Credit Facility contains Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our business. To the fullest extent permitted by law, in no circumstances will VPCC, Dave or any of their respective subsidiaries, Dave CEO Jason Wilk on Saving Customers Billions and their SPAC Deal 6 3 Maximum proceeds to select existing If any of our agreements with our processing providers are terminated, we could experience service interruptions. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash product. The interests of the sponsor. approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B 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. The CFPB has broad enforcement powers, and upon determining a violation The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. user feedback. Many actual events and circumstances are beyond the control of Dave and VPCC. projections. Dave App to Go Public Through SPAC, Not IPO - Market Realist There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are notifications regarding violations, limits on activities or functions, remediation of practices, external compliance monitoring and civil money penalties. 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 established for voting on the Proposed Business Combination. 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. 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 amendments thereto and the definitive proxy The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. 1 minute read. 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 results of operations. Its . SPACs explained | Fidelity PDF Bigbear.ai to Become Publicly Traded Company Via Merger With Gigcapital4