dave spac investor presentation11 Mar dave spac investor presentation
6 3 Maximum proceeds to select existing The "Market Opportunity" Slide of the Pitch Deck. 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 our financial position and results of operations. 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. overdraft fees saved management skills Source: Dave Management. For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of If you hold public warrants of 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 The financial services industry continues to be targeted by One of our wholly-owned subsidiaries, Dave OD We obtain and process a large amount of sensitive data and any real or perceived 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 Dave. Its . Momentus Investor Presentation - Powering In-Space Transportation NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE dated March 4, 2021 (SEC File No. transactions. 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 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. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. 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. The transfer of the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. financial information and data contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). VPCC and Dave believe that these non-GAAP financial measures provide useful financial condition and results of operations. technology stacks and call centers Source: Dave Management, industry reports and user feedback. connection with the Proposed Business Combination. qualification under the securities laws of any such jurisdiction. obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on However, banking products made available through Dave by our bank partner remain subject to regulation and supervision by banking regulators and Dave, as a service provider to its bank partner, We depend upon several third-party service providers for processing our transactions. sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. Legal Disclaimers 3 Important Information For Investors and Shareholders; Participants in Solicitation In connection with the proposed business combination, Spartan will be required to file a registration statement (which will include a proxy statement/prospectus of Spartan) and other relevant documents with the The Credit Facility contains The largest investor in Dave has been Victory Park Capital, a global investment firm headquartered in Chicago and the parent company of the SPAC that Dave is merging with. 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E 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 ANY REPRESENTATION TO THE CONTRARY IS Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. 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. Fraudulent and 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 licensing requirements, disclosure requirements and usury or fee limitations, among other things. We obtained this information and statistics from third-party intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended 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. user feedback. 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. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. The CFPB has broad enforcement powers, and upon determining a violation of applicable law has occurred can order, among other things, rescission or . Our fraud detection and BlackSky SPAC Investor Presentation Analysis | Merger with SFTW, Osprey Technology | Space Spac Time in the Market 604 subscribers Subscribe 14 Share Save 795 views 1 year ago An analysis of. by the CFPB. Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E 2022E 2023E Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or We may not be able to scale our business quickly enough to meet our users Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and 1Q22 Shareholder Letter 9.1 MB. Special purpose acquisition companies (SPACs) have become a preferred way for many experienced management teams and sponsors to take companies public. 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 $8 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020P 2021E 2022E 2023E Rapid scaling and 60% YoY Proven Many actual events and circumstances are beyond the control of Dave and VPCC. completion of the Proposed Business Combination. basis of any investment decision or any other decisions with respect to the Proposed Business Combination. undertakes certain compliance obligations. licensor to these trademarks, service marks and trade names. Transaction Structure Implied Sources & Uses ($mm) Dave to not be able to continue to operate our business as it is currently operated. 1 Dave users have taken over 30mm of overdraft 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 The company through its brand aims to make its. should make such other investigations as they deem necessary. Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. 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 FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not Combination when it becomes available. Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB Source: Dave Management. BigBear.ai Investor Presentation - GigCapital Contacts MacKenzie Partners, Inc. 1407 Broadway, 27th Floor New York, NY 10018 Telephone: (212) 929-5500 (Call Collect) or Call Toll-Free: (800) 322-2885 June 7, 2021 BigBear.ai Investor Presentation 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. engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and ExtraCash ExtraCash Recent bank revenue trends for Solving Crucial Daily Financial Direct Deposit cohorts suggest Pain Points Platform 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. We may never achieve or sustain profitability. It is our mission to enable anyone anywhere to participate and succeed in the global . We operate in an uncertain regulatory environment and may from Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. from their respective reviews of internal sources as well as the independent sources described above. 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 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. 25th Annual Needham Growth Conference Presentation . are not the only ones we face. Some of the financial information and data independent sources described above. While VPCC and Dave believe that their On your "Market Opportunity" slide you want to: Set forth . 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. financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. Such persons can valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. from and be more extensive than those presented below. There is no guarantee that a stockholders decision whether to redeem its shares for a pro rata portion of the trust account will put the stockholder in a better future economic position. 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting thresholds (25% of all founder shares).Transaction 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. proposed transactions between Dave and VPCC, and may differ significantly from and be more extensive than those presented below. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in Dec. 2020+ Source: Dave Management. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is Fraudulent and Combination. You should consult your own advisers concerning any legal, financial, tax or other considerations concerning the opportunity described herein. the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. 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. Quarterly Report on Form 10-Q for the three months ended 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 debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. involves a high degree of risk. Business Combination may not be completed. 5200, Chicago, IL 60606. May tap VPCCs sponsor, directors Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in uncertain, evolving and unsettled. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may 115 Across all relevant mobile any of which could have a material adverse effect on our business, financial position, and results of operations. Going forward, unique users represents combination of connected bank disposition is exempt from the registration requirements of the Securities Act. 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. 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 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 dave-to-go-public-in-4-billion-spac . consensus broker research. Sponsor Shares Implied Enterpise Value $3,563 1% Source: Dave management. Company). 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from upside over time on engagement and revenue Where weve been Where were going Since inception Dec. 2020+ Source: Dave Management. All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. received a Civil Investigative Demand (the CID) from the U.S. Bureau of Consumer Financial Protection (the CFPB), the stated purpose of which is to determine whether there is or has been a violation of any laws enforced If we cannot address any Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. its consolidated subsidiaries. Source: Dave Management projections. 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 marks and trade names referred to in 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 62 slides. The risks presented in such filings 02/28/2023 11:00 AM ET. These forward-looking statements are subject to a number of risks and uncertainties, PARTICIPANTS IN THE SOLICITATION VPCC, Dave and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies registration statement on Form S-4 is expected to be filed by VPCC with the SEC. 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 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. Investor Relations Resources & Information Company Overview Sonder is revolutionizing hospitality through innovative, tech-powered service and inspiring, thoughtfully designed accommodations combined into one seamlessly managed experience. 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. 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 Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. 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. 1 Dave users have taken over 30mm of overdraft protection advances, typically 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:. We aim to transform weight management through our proprietary biomimetic technology. 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. Valuation: The SPAC deal values Lucid Motors at $11.75 billion. 1 Capital Raised / Users Acquired Dave: $6 Other Neobanks: $75-100 10M 03/22. substantial 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. Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. 2 Calculated as 10 meals per dollar donated.Total Meals Overdraft Fees Pledged to 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. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise adversely impact the Proposed Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. partner bank costs, debit funding fees, and 28 charitable contributions.Marketing investment recovered in ~9 months on 1 a gross profit basis 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected and significant pain Up to $200 of ExtraCash point for users without the fees Flagship feature, a pioneer in reinventing overdraft for Americans in 2017 The Credit 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. Engenders significant user Instantly access funds by linking an loyalty existing bank account or setting up direct deposit Utilized over 30mm times since product launched in 2017 Improves budgeting and financial 1 $1B of Combined Company). 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. risk control mechanisms may not prevent all fraudulent or illegal activity. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. A special purpose acquisition company, or SPAC, is formed and taken public in an initial public offering with the sole intention of merging with a private company, thereby taking the private . investment decision in respect of the Business Combination. FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated The company has attracted institutional investors. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. 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 Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% 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. Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are forward-looking statements. Reconciliations of such non-GAAP 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 Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in December 31, 2020 is unaudited, preliminary and subject to change. 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, NO OFFER OR SOLICITATION This Additional risks that we currently do not Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020. The interests of the sponsor. Average fees paid per year by Dave customers to legacy banks 10, Daves Estimated Chaos Climbers User TAM Overcoming 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue 2Disclaimer This presentation (together with oral statements made in connection herewith, this Presentation) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation Investors want to invest in big opportunities with large addressable markets. Dave and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. 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. training. Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. Investor Resources. VPCCs 2021 Annual Shareholder Letter 12 MB. As a result, investors should be aware that although most of the . Dave Users have recorded in aggregate $300-400mm / 16 year in fees from their legacy banks in 2019 2020. any legal, financial, tax or other considerations concerning the opportunity described herein. 333-252577), which was filed with the SEC on March 8, 2021. 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 Business Combination may not The list below is qualified in its entirety by disclosures contained in future documents filed or Track Record of Investing in FinTech Underpenetrated Market Executed over 60 FinTech transactions since inception Meaningful Barriers to Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC According to an investor presentation, the company generated $122M in revenue in 2020. A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. 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 We are subject to governmental regulation and 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 A PIPE of $210 million was led by Tiger. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV /
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