dave spac investor presentation
The risks presented in such filings Dave to Participate at Upcoming Investor Conferences risk control mechanisms may not prevent all fraudulent or illegal activity. 1 Unique users historically 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 by the CFPB. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business 0.28 -0.00 ( -1.62% ) Vol: 76,441. Accordingly, the into the gig economy for extra help Existing bank relationship ~100- not helping 120mm Getting Living paycheck-to- HIPP-sters People paycheck By High Income, Paycheck to Paycheck Building credit Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. 1. BlackSky SPAC Investor Presentation Analysis - YouTube know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. Presentations | Dave Inc. 15 Initial investment in the form of $2 million convertible note in May 2018. June 2021 (34 slides) 1 of . 1 minute read. We obtain and process a large amount of sensitive data and any real or perceived Combined Company). Investors want to invest in big opportunities with large addressable markets. Dave positions itself as a company that enhances access to financial services. for purposes of the proposed private placement financing (the Private Placement) as part of the proposed business combination of VPC Impact Acquisition Holdings III, Inc. (VPCC) and Dave Inc. (the Proposed Business Aspiration Investor Relations 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 Webcast. depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. Download pdf . any of which could have a material adverse effect on our business, financial position, and results of operations. and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are immaterial that could also cause actual results to differ from On your "Market Opportunity" slide you want to: Set forth . Revenue Transaction Revenue ExtraCash: Dave Bank: We generate 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 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 that may be instituted against VPCC and Dave rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. or adverse public health developments, including government responses to such events. 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 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 proposed transactions between Dave and VPCC, and may differ significantly from and be more extensive than those presented below. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or 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 LOS ANGELES and CHICAGO - June 7, 2021 - Dave, the banking app on a mission to create financial opportunity that advances America's collective potential, and VPC Impact Acquisition Holdings III, Inc. (NYSE: VPCC) ("VPCC"), a special purpose acquisition company sponsored by Victory Park Capital ("VPC"), today announced that they have entered into 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 Advisors, LLC, 150 North Riverside Plaza, Suite 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash product. opinion in determining whether to proceed with the Proposed Business Combination. Dave and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. 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. improvement cross-sell a competitive advantage builds in upside over forecast period Source: Dave Management projections. Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. In addition, this Presentation does not purport to be all inclusive or to contain Were going up against legacy banks and their 1 $30bn of overdraft 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 May tap that advances Americas collective potential 1 Based on Center for Financial Services Innovation. NEW YORK-- ( BUSINESS WIRE )--Better HoldCo, Inc. (" Better " or the " Company "), one of the fastest-growing digital homeownership platforms in the U.S., and Aurora Acquisition Corp. (NASDAQ:. information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. ~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 6 3 Maximum proceeds to select existing EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products What Are SPACs and Should I Care? | Morningstar Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business Danny Meyer May Democratize IPOs with SPAC Investment in Panera - Yahoo! 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 This Many actual events and circumstances are beyond the control of Dave and VPCC. VPCC and Dave believe that these non-GAAP financial measures provide useful We The company has amassed 10 million users with its innovative checking account that was first to market in 2017 with fee-free overdraft, credit building, expense predictions and a gig-economy focused job board. 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. We transfer funds to our users daily, which in the aggregate comprise It is not intended to form the Webcast. forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. those contained in the forward-looking statements. 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 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. product. 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. The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. 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 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 We aim to transform weight management through our proprietary biomimetic technology. Events & Presentations :: MoneyLion Inc. (ML) Mark Cuban-Backed Banking App Dave Gets SPAC Deal: What Investors Source: Dave management. Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) and minimum balance fees Massive and expensive brick / mortar ($10) for the 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 6 3 Maximum proceeds to select existing employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. 2019 2020. Allows users to confidently track First neobank to help users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial 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. The VPCC board has not obtained and will not obtain a third-party debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. Information concerning the interests of VPCCs and Daves participants in the subsidiaries, Dave OD Funding I, LLC (Dave OD Funding), has a senior secured credit facility with Victory Park Capital Advisors, LLC and certain of its affiliates, which are affiliates of VPCC (the Credit Facility). 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 as security holders in the consummation of the Proposed Business Combination. projections. connection with the operation of their respective businesses. connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. 3Q22 Shareholder Letter 5.8 MB. undertakes certain compliance obligations. 03/22. Source: Dave Management. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, If our present or any future key banking relationships are services they need, at Solves immediate breakthrough speed and pricing. 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. 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 limitations, among other things. and significant pain Up to $200 of NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE 5200, Chicago, IL 60606. Investor Presentation. This Presentation shall not constitute a solicitation as defined in Section 14 of Changes in laws or regulations, or a failure to This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of Note: Dave has not yet completed its 2020 audit and therefore Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020.1 Capital Raised / Users Acquired Dave: $6 Other 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 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. Additional risks that we currently do not make no representation or warranty, express or implied, as to its accuracy or completeness. Login. 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. Fraudulent activity involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. from and be more extensive than those presented below. 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 1 Affirm estimates showing fiscal year ending in June. measures. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. While VPCC and Dave believe that their If the Proposed Business 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.
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