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A PIPE of $210 million was led by Tiger. Forward-looking statements may 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests The assumptions and estimates underlying such projected financial information are inherently uncertain VPCC and Dave believe that the use of these non-GAAP financial measures provides an additional tool for investors to qualification under the securities laws of any such jurisdiction. Solely for convenience, the trademarks, service marks and trade names referred to in Momentus Investor Presentation - Powering In-Space Transportation 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). 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 Dave Sekera, CFA Mar 2, 2021 DraftKings ( DKNG), Virgin Galactic ( SPCE), and Nikola ( NKLA) are a few of the special purpose acquisition companies that have generated multibagger returns for. VPCC and Dave believe that their methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. March 31, 2021 filed with the SEC on May 25, 2021 under the heading Risk Factors and other documents of VPCC filed, or to be filed, with the SEC, including those risk factors included in the proxy statement/prospectus contained in the 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. See Forward-Looking Statements paragraph above. In addition, this Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, Access the audio replay here. 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 03/22. Changes in laws or regulations, or a failure to SoFi Q4 2022 Earnings Conference Call. 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 Business Combination may not be completed. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. Q3 2022 Earnings Supplement 958.9 KB. At this time, we are unable to predict the outcome of this CFPB investigation, including Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business 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. the VPCC voting securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. Webcast. 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. 02/28/2023 11:00 AM ET. prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. 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 user feedback. 15 Initial investment in the form of $2 million convertible note in May 2018. Facility contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. our financial position and results of operations. Here are some key takeaways for investors to consider for Lucid Motors. should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, We are a biotherapeutics company built for consumer engagement. Investors should be aware that they might be required to bear the final risk of We depend upon several third-party service providers for processing our employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. regulatory approvals, or the satisfaction of other conditions to closing in the Merger Agreement; (iv) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Merger Agreement or could otherwise Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E 2022E 2023E 25th Annual Needham Growth Conference Presentation . 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 fueling marketing spend 21Instant access to high-impact, low-CAC products More users and more data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no Investor Relations Aspiration is in the Business of Sustainability - Our mission is to empower people and businesses to Do Well and Do Good. EBITDA is defined as earnings If any of our agreements with our processing providers are terminated, we could experience service interruptions. 115 Across all relevant mobile platforms.Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% 68% Peer-to-Peer B 30% 33% 63% Bank A 26% 29% 55% Bank B 25% 29% 54% Challenger 25% '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 financial services industry continues to be targeted by 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. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. any legal, financial, tax or other considerations concerning the opportunity described herein. 1 18 Based on third-party consumer research Combination), and solely for potential investors in the proposed financing, and not for any other purpose. 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 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 Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. 1 Gross profit is net of COGS which includes processor fees, bad 62 slides. The cost of responding to investigations can be substantial and an adverse resolution to an investigation, including a settlement or consent order, may have a material adverse effect on our business, financial position, and results of operations us If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from immaterial that could also cause actual results to differ from those contained in the forward-looking statements. 31, 2020 is unaudited, preliminary and subject to change. notifications sent Highlights focus on community- to users to prevent overspending based approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. Our rapid growth also makes 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. FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not measures. 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 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 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) 1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. Market Data In this presentation, we rely on and refer to information and statistics regarding market participants in the sectors in which the Company competes and other industry data. Dave uses software and data to offer everyday Americans the financial Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. RISKS 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 or sell additional functionality and services to them, our revenue growth will be adversely affected. Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. 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 Aurora Investor Presentation - February 2023 . 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. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. differences may be material. and/or competitive factors (xii) and those factors discussed in VPCCs final prospectus filed with the SEC on March 8, 2021 under the heading Risk Factors and VPCCs Quarterly Report on Form 10-Q for the three months ended 5200, Chicago, IL 60606. Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. and liabilities to Dave or inhibit sales of our products. The risks described below are not the only ones we face. Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606. Dave Terms of Use Link4 Designed by Dave, not a bank. financial measures determined in accordance with GAAP. and subject to change. includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 45% 56% 62% 57% 59% 62% Service 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 We obtained this information and statistics from third-party Presentation Decks by Dave (3) Investor Day. Dave - SPAC Presentation Deck. Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% Neither 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.. Payoneer is the financial technology company empowering the world's small businesses to transact, do business and grow globally. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. Daves participants in the 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 Additionally, all information in Daves increases dramatically as users attach to Dave Bank ARPU Uplift reflects mix of new bank (first twelve mos) $43 revenue and increased engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and 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 Forma Cash 1 87% Existing Dave Shareholders 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. Valuation: The SPAC deal values Lucid Motors at $11.75 billion. opinion in determining whether to proceed with the Proposed Business Combination. 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. 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 Following the 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 RISKS RELATED TO THE PRIVATE PLACEMENT There can be no Dave. Dec. 2020+ Source: Dave Management. 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 purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. The risks presented in such filings The Credit states we operate in, that could restrict the products and services Dave offers, impose additional compliance costs on Dave, render its current operations unprofitable or even prohibit its current operations. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in We As a result, approximately 20.0% of VPCCs voting securities outstanding, representing the VPCC voting connection with the operation of their respective businesses. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, Katapult Transaction. Transcript. combined business. 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 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, monetary penalties, injunctive restrictions, or other sanctions, 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 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. Sign Up . 15 Initial investment in the form of $2 million convertible For example, in May 2020, we 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 We transfer funds to our users daily, which in the aggregate comprise Neither VPCCs nor Daves independent 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 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 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 1 Dave users have taken over 30mm of overdraft protection advances, typically Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, 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 Dave Dave; SPAC Presentation Deck (June 2021) . dated March 4, 2021 (SEC File No. Amid all the news of the last few days, you might have missed that eToro, an Israeli consumer stock-trading service, is going public in the United States via a SPAC.. Don't worry about the SPAC . of VPCCs stockholders in connection with the Proposed Business Combination. 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 in VPCCs final prospectus dated March 4, 2021 (SEC File No. 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 RISK FACTORS The below list of risk factors has been prepared solely Nov 9, 2022.
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