The deal was announced in October. remediation of practices, external compliance monitoring and civil money penalties. 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. be completed. Investors should be aware that they might be required to bear the final risk of Dec. 2020+ Source: Dave Management. under the Securities Act. 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. 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:. The Credit Facility contains Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. SPAC. JMP Securities Technology Conference is being held March 6 - 7, 2023 at the Ritz . VPCCs stockholders in connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. Actual results may differ materially from the results contemplated by the projected 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug 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 Cash Flow Positive Plan Presentation 1.4 MB. differences may be material. Nov 9, 2022. VPCCs sponsor, directors 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 accredited investors as defined in Rule 501(a)(1), (2), (3) or (7) under the Act and Institutional Accounts as defined in FINRA Rule 4512(c). The risks presented in such filings 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 We are cooperating with the CFPB, including producing documents and providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. If you hold public warrants of 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. In addition, forward-looking statements reflect VPCCs and Daves expectations, plans or forecasts of future events and If any of our 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.. Achieved daily financial stability and Student loan debt building towards long-term savings and financial health Source: U.S. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. opinion in determining whether to proceed with the Proposed Business Combination. A PIPE of $210 million was led by Tiger. Additional risks that we currently do not know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. Our rapid growth also makes 5200, Chicago, IL 60606. 'lvfodlphu 'lvfodlphuv dqg 2wkhu ,psruwdqw ,qirupdwlrq 7klv suhvhqwdwlrq wklv 3uhvhqwdwlrq lv surylghg iru lqirupdwlrqdo sxusrvhv rqo\ dqg kdv ehhq suhsduhg wr dvvlvw lqwhuhvwhg sduwlhv lq pdnlqj wkhlu rzq hydoxdwlrq zlwk uhvshfw wr d srwhqwldo exvlqhvv frpelqdwlrq ehwzhhq &) The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. You should consult your own advisers concerning any legal, financial, tax or other considerations concerning 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. Combination when it becomes available. competition, the ability of Dave to grow and manage growth profitably, and retain its key employees; (ix) costs related to the Proposed Business Combination; (x) changes in applicable laws or regulations; (xi) the possibility that Dave, or VPCC may established for voting on the Proposed Business Combination. 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 ~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 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 Users can opt for free advances (1-3 days) or optional We also The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. You should review the investors presentation and perform your own due diligence prior to making an investment in 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 Additionally, all information in Daves We transfer funds to our users daily, which in the aggregate comprise & Tech spending patterns; limits Learning to deliver fast and technology stack user offering inexpensive solutions #1 favorable opinion of ~20pp behind Dave in user Negative NPS scores for 4 Beloved 1 1 consumer finance apps satisfaction large Currently, founder and CEO of Dave, a leading challenger bank focused on lifting the collective potential of America. of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. 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 For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. 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. 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 03/22. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. Information concerning the interests of VPCCs and as a private placement to a limited number of institutional accredited investors as defined in Rule 501(a)(1), (2), (3) or (7) under the Act and Institutional Accounts as defined in FINRA Rule 4512(c). existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year Transforming stability into long-term progress by achieving major financial milestones. decline. 7. 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. In a deal valued at $3.6B (4.9x 2022E revenue) VPCC is taking Dave, a Leading Banking App with 10 Million Customers, public. If the Proposed Business 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 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 Solving Legacy Pain Points Building a Better Bank No Overdraft or Q3 2022 Earnings Supplement 958.9 KB. listing standards of the NYSE or Nasdaq. 115 Across all relevant mobile The public and private warrants of VPCC are accounted for as 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, Investor Relations Aspiration is in the Business of Sustainability - Our mission is to empower people and businesses to Do Well and Do Good. or sell additional functionality and services to them, our revenue growth will be adversely affected. These statements are based on various assumptions, whether or not identified in this 2 Calculated as 10 meals per dollar efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in Owlet's $1.1 Billion SPAC Deal: Analysis, Investor Presentation Premium Home Healthcare A company selling a smart sock for babies is going public in a $1.1 billion SPAC deal. NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE Legal Disclaimers 3 Important Information For Investors and Shareholders; Participants in Solicitation In connection with the proposed business combination, Spartan will be required to file a registration statement (which will include a proxy statement/prospectus of Spartan) and other relevant documents with the 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 basis of any investment decision or any other decisions with respect to the Proposed Business Combination. 333-252577), which was filed with the SEC on March 8, 2021. terminated and we are 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. 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. We depend upon several third-party service providers for processing our transactions. and significant pain Up to $200 of 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. 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 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. their investment for an indefinite period of time. 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 53.1% 22.7% 30.4% 31.2% 37.0% 37.6% 45.6% 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 included in the proxy statement/prospectus contained in the registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. financial information are inherently uncertain 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 About; Careers; Help; Investors; Giving Back; FEATURES. An oversubscribed PIPE deal that saw shares priced at $15 . 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. data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no additional CAC High-impact products significantly revenue-generative even before cross-attach, Third-party consumer research commissioned by Dave. Combination) and for no other purpose. 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 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 ($10) for the Presentation does not purport to be all inclusive or to contain all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. Q3 2021 Earnings Supplement 1.3 MB . Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. Investors want to invest in big opportunities with large addressable markets. RISKS RELATED TO THE The financial services industry continues to be targeted by Financial Officer Senior Partner & Co-Founder Executive Officer Joined Dave in 2017 Co-founded VPC in 2007 Founded Dave in 2017 Heads Finance & Operations Serial Entrepreneur 4Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief All references to Dave, we, us or our refer to the business of Dave Inc. and IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, a registration statement on Form S-4 is expected to The qualification under the securities laws of any such jurisdiction. Structure Implied Sources & Uses ($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 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 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. Dave and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market 0.28 -0.00 ( -1.62% ) Vol: 76,441. methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. penalties against us. Powered by a global private aviation marketplace connecting its growing base of approximately 13,000 members and customers to a network of more than 1,500 safety-vetted and verified private aircraft, Wheels Up is widening the aperture of private travel for millions of consumers globally. unaudited, preliminary and subject to change. VPCC and Dave urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus included in the Form S-4 and, when available, the amendments thereto and the definitive proxy combined business. 24 slides. Many actual events and circumstances are beyond the control of Dave and VPCC. Presentation Decks by Dave (3) Investor Day. time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other specific product, or a solicitation of any vote or approval, nor shall Transaction Structure Implied Sources & Uses ($mm) Dave to any legal, financial, tax or other considerations concerning the opportunity described herein. The VPCC board has not obtained and will not obtain a third-party Combination), and solely for potential investors in the proposed financing, and not for any other purpose. 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. Some of the financial information and data 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 The risks presented below are certain of dave-to-go-public-in-4-billion-spac . Facility contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. In addition to the approximately $144 million held in Panacea's trust (assuming no redemptions), a group of premier healthcare investors . Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. constitute a solicitation as defined in Section 14 of the Securities Exchange Act of 1934, as amended. The assumptions and estimates underlying such projected 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. as security holders in the consummation of the Proposed Business Combination. NO OFFER OR SOLICITATION This donated. Webcast. KBW Fintech Payments Conference. Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to A data security breach could expose us to liability and protracted and costly litigation, and could adversely affect our reputation and operating revenues. Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. Investor Tools. record of driving significant scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. undertakes certain compliance obligations. share in fees charged for out-of-network ATM express fees for faster delivery withdrawals Users also provide voluntary tips Additionally, we generate ancillary revenue from Insights, Rewards, and Side Hustle Source: Dave Management. Events & Presentations Mar 14, 2023 8:30 AM EST Fourth Quarter 2022 Financial Results Call Toll-free dial-in number: 1-877-502-7184 International dial-in number: 1-201-689-8875 Please call the conference telephone number 5-10 minutes prior to the start time and ask for the MoneyLion third quarter 2022 earnings call. 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, Dave and VPCC have not independently verified the information and Fraudulent and combined companys common shares on the New York Stock Exchange or Nasdaq following the Proposed Business Combination; (vii) the risk that the Proposed Business Combination disrupts current plans and operations as a result of the announcement completion of the Proposed Business Combination. Some of the See Virgin Galactic's Fall 2019 Investor Presentation. obligations could harm our business by resulting in litigation, fines, penalties, or 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 01/30/2023. Solely for convenience, the trademarks, service marks and trade names referred to in To the fullest extent permitted by law, in no circumstances will VPCC, Dave or any of their respective subsidiaries, 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 After the Form S-4 has been filed and declared effective, the definitive proxy statement/prospectus will be mailed to VPCCs stockholders as of a record date to be 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. express or implied are given in, or in respect of, the accuracy or completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. should make such other investigations as they deem necessary. 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. adversely impact the Proposed Business Combination. contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. BlackSky SPAC Investor Presentation Analysis | Merger with SFTW, Osprey Technology | Space Spac Time in the Market 604 subscribers Subscribe 14 Share Save 795 views 1 year ago An analysis of. Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations Allscreen Supported by World-Class Investors 23, Service Revenue Transaction Revenue ExtraCash: Dave Bank: We generate Its . 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 financial information contained in this 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. Proposed Business Combination. 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 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. If any of our agreements with our processing providers are terminated, we could experience service interruptions. 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 View All Posts vote by VPCCs stockholders in connection 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 the VPCC voting securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. 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, 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. Sign Up. 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 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. of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. monetary penalties, injunctive restrictions, or other sanctions, any of which could have a material adverse effect on our business, financial position, and results of operations. 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 VPCC and Dave believe that these non-GAAP financial measures provide useful INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY additional tool for investors to 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. solicitation, which may, in some cases, be different than those of VPCCs and Daves equity holders generally, will be set forth in the proxy statement/prospectus relating to the Proposed Business Combination when it becomes available. EBITDA is defined as earnings registration statement on Form S-4 is expected to be filed by VPCC with the SEC. Note: Dave has not yet completed its 2020 audit and therefore all financial A CRIMINAL OFFENSE. Market data from FactSet as of June 1, 2021. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. statements above. overdraft fees saved management skills Source: Dave Management. valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. 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 If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we 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. 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 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 If we cannot address any One of our wholly-owned thresholds (25% of all founder shares). Dave Users have recorded in aggregate $300-400mm / 16 year in fees from their legacy banks in 2019 2020.
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