61% $29 5.6 3.7 2.8 1.1 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020A 2021E 2022E 2023E Efficient user acquisition and Modest ARPU improvement cross-sell a competitive advantage builds in upside over forecast period Source: Dave Management regulatory approvals, or the satisfaction of other conditions to closing in the Merger Agreement; (iv) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Merger Agreement or could otherwise We aim to transform weight management through our proprietary biomimetic technology. generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, intend, expect, 1 Unique users historically measured as connected bank accounts. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. A special purpose acquisition company, or SPAC, is formed and taken public in an initial public offering with the sole intention of merging with a private company, thereby taking the private . You should review the investors presentation and perform your own due diligence prior to making an investment in BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. Here are some key takeaways for investors to consider for Lucid Motors. Structure Implied Sources & Uses ($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 basis of any investment decision or any other decisions with respect to the Proposed Business Combination. 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. The interests of the sponsor. Q3 2021 Earnings Supplement 1.3 MB . 7. 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. remediation of practices, external compliance monitoring and civil money penalties. 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 cause actual results to differ materially from respective businesses. 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 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. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. disposition is exempt from the registration requirements of the Securities Act. 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 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. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act. A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. 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 completion of the Proposed Business Combination. liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. and subject to change. 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 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 Additional risks that we currently do not Going forward, unique users represents combination of connected bank 2 Calculated as 10 meals per dollar 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 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 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. Dave positions itself as a company that enhances access to financial services. Average fees paid per year by Dave customers to legacy banks 11 Cant afford a one-time $400 emergency. transactions between Dave and VPCC. situations or financial needs. Dec. 2020+ Source: Dave Management. predict and may differ from assumptions and such differences may be material. Dave Dave; SPAC Presentation Deck (June 2021) . make no representation or warranty, express or implied, as to its accuracy or completeness. 12/21. 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 FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not 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 vote by VPCCs stockholders in connection Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace To Note: Dave has not yet completed its 2020 audit and therefore 1 18 Based on third-party consumer research Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. Our recent rapid growth, including growth in our volume of payments, may not be indicative of future growth, and if we continue to grow rapidly, we may not be able to manage our growth effectively. established for voting on the Proposed Business Combination. Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial notifications sent Highlights focus on community- to users to prevent overspending based 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 Combined Company). the use of our platform and other products and services could decline. The combined companies would have an enterprise value of approximately $9.3 billion, the SPAC said. Allows users to confidently track First neobank to help services they need, at Solves immediate breakthrough speed and pricing. Dave Other Neobank Incumbent User Journey User Journey Bank User operations as a result of the announcement and consummation of the Proposed Business Combination; (viii) the ability to recognize the anticipated benefits of the Proposed Business Combination, which may be affected by, among other things, These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B as security holders in the consummation of the Proposed Business Combination. Momentus Investor Presentation - Powering In-Space Transportation Any offering of securities (the Securities) will not be registered under the Securities Act of 1933, as amended (the Securities Act), and will be offered 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 the results implied by these forward-looking statements. We obtained this information and statistics from third-party FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are forward-looking statements. Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Source: Dave Management projections. Dave Users have recorded in aggregate $300-400mm / 16 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 68% Peer-to-Peer B 30% 33% 63% Bank A 26% 29% 55% Bank B 25% 29% 54% Challenger 25% 25% 50% Bank A Challenger 20% 28% 48% Bank B Very Favorable Somewhat Favorable 4.8 ~1M #1 1 Most Favored Brand App Store Rating Reviews in the Industry Source: 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 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 Combination. document does not contain all the information that should be considered concerning the Proposed Business Combination and is not intended to form the basis of any investment decision or any other investment decision in respect of the Business 01/30/2023 08:00 AM ET. be filed by VPCC with the SEC. IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, a Shares opened at $8.27 apiece under. 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. Combination. Solely for convenience, the trademarks, service Viewers of this Presentation should each make their own evaluation of its consolidated subsidiaries. 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 The loss of such key personnel could negatively impact the operations and financial results of the combined business. Our rapid growth also makes financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . 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. measured as connected bank accounts. Q3 2022 Earnings Presentation. 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 Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. 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. 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 be adversely affected by other economic, business, 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 An oversubscribed PIPE deal that saw shares priced at $15 . Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our and multitude of associated steps four steps Multiple user-friendly Antiquated 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 Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. If the Proposed Business All references to Dave, we, us or our refer to the business of Dave Inc. and its consolidated subsidiaries. contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). We depend upon several third-party service providers for processing our Our 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 SPAC Presentation Deck by Dave. 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 Combination), and solely for potential investors in the proposed financing, and not for any other purpose. statements above. Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and In addition to the approximately $144 million held in Panacea's trust (assuming no redemptions), a group of premier healthcare investors . those contained in the forward-looking statements. Side Hustle; FOLLOW US. 01/30/2023. 1 Dave users have taken over 30mm of overdraft financial measures to the most comparable GAAP amounts can be found below. avoiding ~$35 overdraft fee from their legacy bank. combined business. 1 Unique users historically If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry necessary to continue providing our users with new and innovative products and services, The list below is qualified in 02/28/2023 11:00 AM ET. adversely impact the Proposed Business Combination. forward-looking statements. Sign Up. For example, in May 2020, we 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 Combined and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. One of our wholly-owned all of the regulations applicable to traditional banks. daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by listing standards of the NYSE or Nasdaq. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are 31, 2020 is unaudited, preliminary and subject to change. 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. risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. 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. 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 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 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) Facility contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. Download pdf . financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. You should consult your own advisers concerning We may not be able to scale our business quickly enough to meet our users Note: Dave has not yet completed its 2020 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 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). 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / Our fraud detection and INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT Investor Resources. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash Transcript. Its . banks Source: Dave Management. If we cannot address any of the following risks and uncertainties effectively, or any other risks The risks described below completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. Q3 2022 Earnings Supplement 958.9 KB. registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. Dave and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. RISKS All subsequent written and oral forward-looking statements concerning VPCC or Dave, the transactions described herein or other matters and attributable to VPCC, Dave or any person acting on their behalf are information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. 6 3 Maximum proceeds to select existing employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. and liabilities to Dave or inhibit sales of our products. 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 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. 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. The CFPB has broad enforcement powers, and upon determining a violation of applicable law has occurred can order, among other things, rescission or The cost of responding to investigations can be substantial and an adverse Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. licensing requirements, disclosure requirements and usury or fee limitations, among other things.
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