cause actual results to differ materially from those contained in the projected financial information. Investor Relations. Our rapid growth also makes We are a biotherapeutics company built for consumer engagement. most vulnerable customers footprints Onerous regulatory requirements (capital, interchange) constrain investment Mediocre digital user experience Legacy and antiquated technology stacks and call centers Source: Dave Management, industry reports and make no representation or warranty, express or implied, as to its accuracy or completeness. June 7 (Reuters) - Billionaire Mark Cuban-backed Dave said on Monday it would go public through a merger with a blank-check firm sponsored by investment firm Victory Park Capital, valuing the. 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 Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. Going forward, unique users represents combination of connected bank All references to Dave, we, us or our refer to the business of Dave Inc. and If we cannot address any Changes in laws or regulations, or a failure to Instantly search thousands of Presentation Decks by world-leading companies on Slidebook.io. specific product, or a solicitation of any vote or approval, nor shall there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or connection with the operation of their respective businesses. measured as connected bank accounts. Katapult Transaction :: FinServ Acquisition Corp. (FSRV) 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 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 NO REPRESENTATION OR WARRANTY No representations or warranties, Login. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). If any of these risks materialize or VPCCs or Daves assumptions 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 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. Wheels Up Experience Inc. - Investor Relations Our fraud detection and Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December or sell additional functionality and services to them, our revenue growth will be adversely affected. risk control mechanisms may not prevent all fraudulent or illegal activity. All subsequent written 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 Solely for convenience, the trademarks, service 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. Forward-looking statements may 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. 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). Presentations. 1 Dave users have taken over 30mm of overdraft shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this Presentation, its Panacea Files Investor Presentation on Nuvation Bio 1 Dave users have taken over 30mm of overdraft protection advances, typically time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. expressly qualified in their entirety by the cautionary statements above. 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. Fraudulent activity involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. If the Proposed Business Combinations benefits do not meet the expectations of investors or securities analysts, the market price of our securities or, following the consummation of the Proposed Business Combination, the Combined Source: Dave Management projections. conform to Regulation S-X promulgated under the Securities Act. 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / If you hold public warrants of $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 Sponsor Shares Implied Enterpise Value $3,563 1% 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. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm of overdraft While VPCC and Dave believe that their as security holders in the consummation of the Proposed Business Combination. 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 Facebook; Twitter; . Dave to go public via merger with SPAC at $4B valuation The Financial 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 Dave Other Neobank Incumbent User Journey User Journey Bank User Payoneer - Investor Relations 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 the go-forward publicly traded company SPAC Cash in Trust 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. 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. 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. All references to Dave, we, us or our refer to the business of Dave Inc. and its consolidated subsidiaries. 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 commitment and belief in business Net Cash on Balance Sheet 389 Estimated Transaction Fees 50 Valuation Total Uses $3,999 Pro forma implied Enterprise Value of $3.6bn, which equates to 9.4x 2022E revenue of $377mm 4 Pro Forma Ownership Pro Sep Oct Nov Dec Jan Feb Mar Apr May 2021A 2020A No concerted marketing effort all in-app Broad marketing campaign supported demand from existing users by targeted marketing to existing users Source: Dave Management. information to management and investors regarding certain financial and business trends relating to Daves financial condition and results of operations. DAVE Stock Alert: 10 Things to Know as Dave Starts - InvestorPlace Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics We are not currently subject to all of the regulations applicable to traditional banks. Dave SPAC Presentation Deck | Slidebook.io 1 Capital Raised / Users Acquired Dave: $6 Other Neobanks: $75-100 10M protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. We depend upon several third-party service providers for processing our Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. The interests of the sponsor. Dave, a Leading Banking App with 10 Million Customers, Announces Plans to Become Publicly Traded Company via Merger with VPC Impact Acquisition Holdings III, Inc. Dave's mission is to create. VPCCs Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 15.6x 15.1x 14.5x 2022E Peer Median: 13.9x 13.7x 12.2x 12.2x 11.6x 2023E Peer Median: 10.5x 10.4x 9.4x 9.1x 8.7x 8.1x 8.0x 6.7x 5.5x 1 DaveFUSEIPOEFTCVUPSTSQLPROAFRMAPT-AU Revenue Growth 2022E 95.2% 79.2% 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. Daves financial statements. Consumer Finance Startup Dave Eyes Acquisitions, Crypto After SPAC Deal A data security breach could expose us to liability and protracted and prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. and significant pain Up to $200 of If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from We operate in an uncertain regulatory environment and may from In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. thresholds (25% of all founder shares). This The loss of such key personnel could negatively impact the operations and financial results of the The use or display of third parties Industry. The transfer of the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. operations. Proposed Business Combination. 45% 56% 62% 57% 59% 62% Service Revenue $533 $329 189 $377 CAGR: 98% $223 CAGR: 116 112% $193 $111 22 344 $122 262 $75 $76 171 $43 121 $17 $8 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020P 2021E 2022E 2023E Rapid scaling and 60% YoY Proven If the Proposed Business Merger Agreement or could otherwise 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 intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in our financial position and results of operations. Presentations | Open Lending target or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. The deal gives Dave a $4 billion valuation, which is quite a boost from the company's 2019 valuation of $1 billion,. The risks presented below are certain of the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. FinTech Dave Inc Announces Nasdaq Debut | PYMNTS.com 11 Cant 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. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act. Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September 19Phased Launch To Date 1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 Investors should carefully consider the forward-looking statements. 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. of the stockholders of VPCC, certain regulatory approvals, or the satisfaction of other conditions to closing in the Merger Agreement; (iv) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Mark Cuban-backed banking app Dave going public via $4 billion SPAC - CNBC Many actual events and circumstances are beyond the control of Dave and VPCC. PDF Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace 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:. 2Q22 Shareholder Letter 6.5 MB. costly litigation, and could adversely affect our reputation and operating revenues. avoiding ~$35 overdraft fee from their legacy bank. Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. Revenue $533 $329 189 $377 CAGR: 98% $223 CAGR: 116 112% $193 $111 22 344 $122 262 $75 $76 171 $43 121 $17 $8 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020P 2021E 2022E 2023E Rapid scaling and 60% YoY Proven record of driving significant basis of any investment decision or any other decisions with respect to the Proposed Business Combination. by the CFPB. 34. Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. Jarad Fisher Shannon Sullivan Chien Chou CEO CFO Co-founder CCO CPO EVP Engineering Serial Entrepreneur Mia Alexander John Ricci Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations Additional risks that we currently do not FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are Archived Events & Presentations. Ex-99.2 - Sec Momentus Investor Presentation - Powering In-Space Transportation This Presentation shall not 01/30/2023. Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates measures. future, outlook, target or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. Neither sums, and are subject to the risk of errors, which could result in financial losses, damage to our reputation, or loss of trust in our brand, which would harm our business and financial results. Investor Presentation 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E The combined companies would have an enterprise value of approximately $9.3 billion, the SPAC said. providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. Acquisition Company ("SPAC") GigCapital4's IPO was completed in February 2021 Led by a proven management team of experienced entrepreneurs and executives Deep public company management and board experience Extensive global network of TMT business professionals and investors Proven experience with M&A, strategy and technology Were going up against legacy banks and their 1 $30bn of overdraft Nasdaq. On your "Market Opportunity" slide you want to: Set forth . investment decision in respect of the Business Combination. notifications regarding violations, limits on activities or functions, remediation of practices, external compliance monitoring and civil money penalties. 12/21. views as of the date of this Presentation. Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Source: Dave Management projections. financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. Minimum Balance Insights Fees Access Paycheck 2 Days Early ExtraCash Empowering On- Demand Overdraft Protection Side Hustle Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability Our recent rapid growth, including growth in our volume of payments, may not be indicative of future growth, and if we continue to grow rapidly, we may not be able to manage our growth effectively. includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 45% 56% 62% 57% 59% 62% Service 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 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 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 ExtraCash ExtraCash Recent bank revenue trends for Solving Crucial Daily Financial Direct Deposit cohorts suggest Pain Points Platform upside over time on engagement and revenue Where weve been Where were going Since inception You should consult your own advisers concerning Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and growing needs, and if we are not able to grow efficiently, our operating results could be harmed. 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 1. 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. in VPCCs final prospectus dated March 4, 2021 (SEC File No. the use of our platform and other products and services could decline. SEC Filings | Dave Inc. Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace assumptions, whether or not identified in this Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial Aurora Investor Presentation - February 2023 . A PIPE of $210 million was led by Tiger. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. RISK FACTORS The below list of risk factors has been prepared solely statements above. Dave Terms of Use Link4 Designed by Dave, not a bank. the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. Payoneer is the financial technology company empowering the world's small businesses to transact, do business and grow globally. 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 Actual events and circumstances are difficult or impossible to Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business 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 Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. PDF Momentus Investor Presentation - Powering In-Space Transportation could suffer. If any of our 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 prohibit its current operations. The public and private warrants of VPCC are accounted for as See Virgin Galactic's Fall 2019 Investor Presentation. NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE To Invest or Not to Invest in SPACs | Morningstar Neobanks: $75-100 10M 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. Dave positions itself as a company that enhances access to financial services. Webcast. 33, RISKS RELATED TO DAVES BUSINESS (Contd) Failure Investing in securities (the Securities) to be issued in connection with the Proposed Business Combination 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:. Market data from FactSet as of June 1, 2021. 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 by a 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. 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, RISKS RELATED TO THE PRIVATE PLACEMENT There can be no any of which could have a material adverse effect on our business, financial position, and results of operations. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. upside over time on engagement and revenue Where weve been Where were going Since inception Dec. 2020+ Source: Dave Management. cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Each of VPCC and Dave expressly disclaims any 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. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business practices (which may increase our operating expenses and/or 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 Marketing investment recovered in ~9 months on 1 a gross profit basis May tap 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