In a deal valued at $3.6B (4.9x 2022E revenue) VPCC is taking Dave, a Leading Banking App with 10 Million Customers, public. Katapult Transaction. Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% The CFPB has broad enforcement powers, and upon determining a violation of VPCCs stockholders in connection with the Proposed Business Combination. VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a 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 We may never achieve or sustain profitability. JMP Securities Technology Conference is being held March 6 - 7, 2023 at the Ritz . Dave - SPAC Presentation Deck. 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 any exemption under the Securities Act. the VPCC voting securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. 1 Gross profit is net of COGS which includes processor fees, bad 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. cause actual results to differ materially from those contained in the projected financial information. Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. immaterial that could also cause actual results to differ from those contained in the forward-looking statements. DAVE Stock Alert: 10 Things to Know as Dave Starts - InvestorPlace Investor Presentation. Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. consensus broker research. audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business avoiding ~$35 overdraft fee from their legacy bank. 01/30/2023 08:00 AM ET. Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. its consolidated subsidiaries. 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. 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 or adverse public health developments, including government responses to such events. Sign Up . SEC Filings | Dave Inc. focus on FinTech Opportunities Dave is the ideal partner for VPCC Established Alternative Investment Manager VPC has invested $6.0 billion in over 120 transactions globally since inception Differentiated High Growth FinTech Strong 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. One of our wholly-owned The Credit Facility contains adversely affected. Login. However, banking products made available through Dave by our bank partner remain subject to regulation and supervision by banking regulators and Dave, as a service provider to its bank partner, We may not be able to scale our business quickly enough to meet our users 25. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may PCAOB standards. SoFi Q4 2022 Earnings Conference Call. RISKS RELATED TO THE PRIVATE PLACEMENT There can be no 115 Across all relevant mobile 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. new laws or regulations in many jurisdictions, including the U.S. 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 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 1 Dave users have taken over 30mm of overdraft As a result, approximately 20.0% of VPCCs voting securities outstanding, representing the VPCC voting situations or financial needs. This Presentation shall not Instantly search thousands of Presentation Decks by world-leading companies on Slidebook.io. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. Fraudulent activity Panacea Acquisition today filed an investor presentration on merger partner Nuvation Bio, which is focused on developing cancer treatments. All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace overdraft fees saved management skills Source: Dave Management. Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. 1 18 Based on third-party consumer research Payoneer is the financial technology company empowering the world's small businesses to transact, do business and grow globally. 2, Disclaimer INDUSTRY AND MARKET DATA Although all information and 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. 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 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 Such persons can differences may be material. Q2 2022 Earnings Supplement 510.8 KB. 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. 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. 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. 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:. 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 . Investor Presentation The loss of such key personnel could negatively impact the operations and financial results of the combined business. Neither Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. 03/22. 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 Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. Actual results may differ materially from the results contemplated by the projected financial information contained in this record of driving significant scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. 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 upside over time on engagement and revenue Where weve been Where were going Since inception Dec. 2020+ Source: Dave Management. 06/21. 1 Gross profit is net of COGS which 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 business. Dave Inc. (DAVE) Stock Price, News, Quote & History - Yahoo! How SPAC mergers work: PwC If the Proposed Business 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. 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 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. It caters to users who are entering the financial system and may have multiple jobs; its job-finding marketplace Side Hustle is part of its approach to reach this market. 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. 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 24 slides. Investor Relations Aspiration is in the Business of Sustainability - Our mission is to empower people and businesses to Do Well and Do Good. employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. As a result, approximately 20.0% of VPCCs voting securities outstanding, representing 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. These forward-looking statements are subject to a number of risks and uncertainties, In addition, forward-looking statements reflect VPCCs and Daves expectations, plans or forecasts of future events and views as of the date of this Presentation. SPAC. See Forward-Looking Statements paragraph above. 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 and subject to change. unaudited, preliminary and subject to change. 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 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 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. Has Allowed for User Positioned for Rapid Scaling 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 of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Presentations :: Aurora Innovation, Inc. (AUR) Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. 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. Katapult Transaction :: FinServ Acquisition Corp. (FSRV) 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests as security holders in the consummation of the registration statement on Form S-4 is expected to be filed by VPCC with the SEC. as security holders in the consummation of the Proposed Business Combination. For example, in May 2020, we 15 Initial investment in the form of $2 million convertible note in May 2018. Dave, a Leading Banking App with 10 Million Customers, Announces Plans 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. VPCC and Dave believe that the use of these non-GAAP financial measures provides an BlackSky SPAC Investor Presentation Analysis - YouTube Download pdf . rights or the right of the applicable licensor to these trademarks, service marks and trade names. ~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 Q1 2022 Earnings Supplement 562.6 KB. 11 Cant afford a one-time $400 emergency. 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 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 NO REPRESENTATION OR WARRANTY No representations or warranties, independent sources described above. by banking regulators and Dave, as a service provider to its bank partner, undertakes certain compliance obligations. Gelesis, Inc. Investor Relations and subject to change. SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in Note: Dave has not yet completed its 2020 audit and therefore all financial depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. 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 PDF 'LVFODLPHU - Cantor Fitzgerald Our fraud detection and connection with the Proposed Business Combination. PDF AeroFarms home The Vertical Farming, Elevated Flavor company 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 listing standards of the NYSE or 0.28 -0.00 ( -1.62% ) Vol: 76,441. 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 Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, If any of these risks materialize or VPCCs or Daves assumptions 0.45x 0.19x Source: Dave Management, consensus broker research. 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. On December 18, 2020, FinServ Acquisition Corp. and Katapult Holdings, Inc. jointly announced that they have entered into a definitive merger agreement valued at approximately $1 billion. Investor Presentation (March 2023) 21.8 MB. Combination) and for no other purpose. EBITDA is defined as earnings before interest, tax and If our present or any future key banking relationships are terminated and we are Economic, political and other conditions may adversely affect trends in consumer spending. 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 established for voting on the Proposed Business Consumer Finance Startup Dave Eyes Acquisitions, Crypto After SPAC Deal Nov 9, 2022. 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 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 banks Source: Dave Management. not be able to continue to operate our business as it is currently operated. 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. 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 Securities must continue to be held unless a subsequent disposition is exempt from the registration requirements of the Securities Act. The use or display of third parties trademarks, service marks, trade names 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. 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 thresholds (25% of all founder shares). Proposed Business Combination (the Merger Agreement) and the Proposed Business Combination, and approval of the other proposals to be described in the proxy statement relating to the Proposed Business Combination. listing standards of the NYSE or Nasdaq. Mark Cuban-backed Dave begins trading on Nasdaq after completing SPAC . 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. information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 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 forward-looking statements. Wheels Up Experience Inc. - Investor Relations Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. and liabilities to Dave or inhibit sales of our products. Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise adversely impact the Proposed results of operations. 34 slides. Note: Dave has not yet completed its 2020 audit and therefore all financial statement 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting These statements are based on various 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 25Service 2Q22 Shareholder Letter 6.5 MB. Investor Resources. The list below is qualified in Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is We operate in an uncertain regulatory environment and may from If you hold public warrants of As a result, investors should be aware that although most of the . Dave, Investing in securities (the Securities) to be issued in connection with the Proposed Business Combination involves a high degree of risk. Some of the financial information and data dave-to-go-public-in-4-billion-spac . If we cannot address any could suffer. methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. improper or unauthorized use of, disclosure of, or access to such data could harm our reputation as a trusted brand, as well as have a material adverse effect on our business. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm of overdraft should make such other investigations as they deem necessary. Phased Launch To Date Has Allowed for User Positioned for Rapid Scaling In addition, this Presentation does not purport to be all inclusive or to contain debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. 2 Calculated as 10 meals per dollar 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. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are forward-looking statements. Inc. has guaranteed 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. 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 ($10) for the Our recent rapid growth, including growth in our volume of payments, may not be indicative of future growth, and if we continue to grow rapidly, we may not be able to manage our growth effectively. comply with any laws and regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. The VPCC board has not obtained and will not obtain a third-party Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 45% 56% 62% 57% 59% 62% Service Aspiration Investor Relations 1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 34. those contained in the forward-looking statements.