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 About; Careers; Help; Investors; Giving Back; FEATURES. Investor Presentation (March 2023) 21.8 MB. efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. The financial services industry continues to be targeted by new laws or regulations in many jurisdictions, including the U.S. Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business 15 Initial investment in the form of $2 million convertible RISK FACTORS The below list of risk factors has been prepared solely Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. respective businesses. combined business. 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. Here are some key takeaways for investors to consider for Lucid Motors. 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 Source: Dave Management projections. VPCCs Dave Terms of Use Link4 Designed by Dave, not a bank. 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 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. 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). Facility contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. 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. 01/30/2023. growth rate. 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. 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. not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. 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. The public and private warrants of VPCC are accounted for as liabilities and the changes in fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. 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 and liabilities to Dave or inhibit sales of our products. Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. penalties against us. daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by Additionally, all information in Daves financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. Actual results may differ materially from the results contemplated by the projected 31, 2020 is unaudited, preliminary and subject to change. Neither VPCCs nor Daves independent The interests of the sponsor. While VPCC and Dave believe that their 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 IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, a Sponsor Shares Implied Enterpise Value $3,563 1% Source: Dave management. If we cannot address any 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 2, Disclaimer INDUSTRY AND MARKET DATA Although all information and The CFPB has broad enforcement powers, and upon determining a violation of applicable law has occurred can order, among other things, rescission or 1 18 Based on third-party consumer research 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 Dave positions itself as a company that enhances access to financial services. Evolve Bank & Trust, Member FDIC, holds all deposits and issues . OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. These statements are based on various reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. disposition is exempt from the registration requirements of the Securities Act. Dave's Benefits & Perks We understand how important it is to get key benefits and perks from an employer. 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 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 consensus broker research. The deal was announced in October. 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 completion of the Proposed Business Combination. commissioned by Dave.Dave Other Neobank Incumbent User Journey User Journey Bank User 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 On your "Market Opportunity" slide you want to: Set forth . remediation of practices, external compliance monitoring and civil money penalties. could suffer. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. 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. 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 Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. 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:. Investor Presentation 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 rights or the right of the applicable 06/21. If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry Market data from FactSet as of June 1, 2021. 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 sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. 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. Average fees paid per year by Dave customers to legacy banks 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 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. We may never achieve or sustain profitability. SPAC sponsors generally purchase equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market. 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 Track Record of Investing in FinTech Underpenetrated Market Executed over 60 FinTech transactions since inception Meaningful Barriers to Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC donated. the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. 1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. 2Q21 & Beyond Feedback and Product Optimization ~31% penetration 1.3 mm Dave Bank Users Projected Dave Bank Users of Dave user base 1.2 mm 1.1mm 943k ~95% CAGR 784k 633k 273k 176k 141k 128k 114k 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates If we are unable to acquire new customers and retain our current customers or sell additional functionality and services to them, our revenue growth will be with the Proposed Business Combination and other matters as described in the Form S-4, as well as a prospectus of VPCC relating to the offer of the securities to be issued in connection with the completion of the Proposed Business Combination. The risks presented in such filings securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. To the fullest extent permitted by law, in no Fathom is a leading on-demand digital manufacturing platform at the forefront of the Industry 4.0 revolution. 3Q22 Shareholder Letter 5.8 MB. Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or of applicable law has occurred can order, among other things, rescission or reformation of contracts, the refund of moneys, restitution, disgorgement or compensation for unjust enrichment, the payment of damages or other monetary relief, public intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, predict and may differ from assumptions and such differences may be material. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. 12/21. completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. Information concerning the interests of VPCCs and Daves participants in the Sign Up. NO OFFER OR SOLICITATION This Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. The public and private warrants of VPCC are accounted for as Companys Securities, may decline. 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 The loss of such key personnel could negatively impact the operations and financial results of the combined business. involves a high degree of risk. 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 Q1 2022 Earnings Supplement 562.6 KB. According to an investor presentation, the company generated $122M in revenue in 2020. EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x Q3 2022 Earnings Supplement 958.9 KB. 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from as security holders in the consummation of the Proposed Business Combination. trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with Dave or VPCC, or an endorsement or sponsorship by or of Dave or VPCC. Source: Dave Management. 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 and liabilities to Dave or inhibit sales of our products. users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial notifications sent Highlights focus on community- to users to prevent overspending based
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