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On your "Market Opportunity" slide you want to: Set forth . Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. transactions between Dave and VPCC. LOS ANGELES, March 02, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (the "Company") (Nasdaq: DAVE, DAVEW), one of the leading U.S. neobanks on a mission to build products that level the financial playing field, today announced that the Company will participate in three upcoming investor conferences in March 2023:. 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. Source: Dave Management projections. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may 2 Calculated as 10 meals per dollar The assumptions and estimates underlying such projected Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of This Presentation shall not constitute a solicitation as defined in Section 14 of Payoneer is the financial technology company empowering the world's small businesses to transact, do business and grow globally. Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise adversely impact the Proposed Our fraud detection and The issuance of shares of the Combined Companys securities in connection with the Private Placement will substantially dilute the voting power of the Combined Companys stockholders. Transaction Structure Implied Sources & Uses ($mm) Dave to user feedback. 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 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 registration statement on Form S-4 is expected to be filed by VPCC with the SEC. 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. SPAC. Learn More. 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. Shares opened at $8.27 apiece under. offering of securities (the Securities) will not be registered under the Securities Act of 1933, as amended (the Securities Act), and will be offered as a private placement to a limited number of institutional before interest, tax and depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. 1 Affirm estimates showing fiscal year ending in June. Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace direct deposit Utilized over 30mm times since product launched in 2017 Improves budgeting and financial 1 $1B of overdraft fees saved management skills Source: Dave Management. Victory Park most . If our present or any future key banking relationships are terminated and we are 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: Third-party consumer research commissioned by Dave. by the CFPB. Accordingly, the PCAOB standards. Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. 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 We are a biotherapeutics company built for consumer engagement. 1 Unique users historically measured as connected bank accounts. liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. harmed. This 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 onboarding features at your fingertips, Advance approval after 30 process, in-person and just 15 minutes from 2 Speed-to-Value days, direct deposit branches and difficult to download to deposit for navigate financial offerings advance product Deep 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 obtain and process a large amount of sensitive data and any real or perceived 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 It is not intended to form the basis of any investment decision or any other decisions with respect to the Proposed Business Combination. These statements are based on various assumptions, whether or not identified in this Sign Up . 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. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in 2019 2020. 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:. 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 2020 is unaudited, preliminary and subject to change. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 1Q22 Shareholder Letter 9.1 MB. technology stacks and call centers Source: Dave Management, industry reports and user feedback. To the fullest extent permitted by law, in no The risks presented below are certain of Additionally, all information in Daves Nothing herein should be construed as legal, financial, tax or other advice. Currently, founder and CEO of Dave, a leading challenger bank focused on lifting the collective potential of America. COMPANY. 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. Combined Company). Actual results may differ materially from the results contemplated by the projected rights or the right of the applicable licensor to these trademarks, service marks and trade names. 1 minute read. We depend upon several third-party service providers for processing our comply with any laws and regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. VPCC and Dave believe that these non-GAAP financial measures provide useful information to management and or adverse public health developments, including government responses to such events. One of our wholly-owned subsidiaries, Dave OD Q3 2022 Earnings Supplement 958.9 KB. Los Angeles-based banking app Dave began trading on the Nasdaq on Thursday, becoming one of the first companies to close a SPAC merger and go public in 2022. These forward-looking statements are subject to a number of risks and uncertainties, See Forward-Looking Statements paragraph above. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, other legal obligations, particularly those related to privacy, data protection, and information security, and our actual or perceived failure to comply with such obligations could harm our business by resulting in litigation, fines, penalties, or 06/21. Investors should carefully consider the risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. Webcast. Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606. 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 contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). You can review a SPAC's proxy, information or tender offer statement in the SEC's EDGAR database. While We are subject to governmental regulation and other legal obligations, particularly those related to privacy, data protection, and information security, and our actual or perceived failure to comply with such of VPCCs stockholders in connection with the Proposed Business Combination. Margin 20% 38% 38% 27% 36% 40% Marketing Spend 5 23 38 61 124 187 EBITDA ($2) $6 $8 ($9) $12 $29 % Margin (11%) 8% 7% (5%) 3% 5% Source: Dave Management. In addition, this Presentation does not purport to be all inclusive or to contain Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. The Credit Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 15.6x 15.1x 14.5x 2022E Peer Median: 13.9x 13.7x 12.2x 12.2x 11.6x 2023E Peer Median: 10.5x 10.4x 9.4x 9.1x 8.7x 8.1x 8.0x 6.7x 5.5x 1 DaveFUSEIPOEFTCVUPSTSQLPROAFRMAPT-AU Revenue Growth 2022E 95.2% 79.2% 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. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in EBITDA is defined as earnings the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. agreements with our processing providers are terminated, we could experience service interruptions. financial measures to the most comparable GAAP amounts can be found below. Dave Users have recorded in aggregate $300-400mm / 16 There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are the use of our platform and other products and services could decline. Some of the 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 Dave, Inc. has guaranteed Following the Cash Flow Positive Plan Presentation 1.4 MB. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash product. 10, Daves Estimated Chaos Climbers User TAM Overcoming VPCC and Dave believe that the use of these non-GAAP financial measures provides an additional tool for investors to VPCC and Dave urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus included in the Form S-4 and, when available, the amendments thereto and the definitive proxy regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. Investing in securities (the Securities) to be issued in connection with the Proposed Business Combination involves a high degree of risk. remediation of practices, external compliance monitoring and civil money penalties. respective businesses. 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 Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to make no representation or warranty, express or implied, as to its accuracy or completeness. 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. 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. growth rate. 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 We operate in an uncertain regulatory environment and may from 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 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug investment decision in respect of the Business Combination. 34. The PIPE is at $210M with Tiger, Wellington, and Corbin all . SPAC sponsors generally purchase equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market. 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 statements above. financial condition and results of operations. dated March 4, 2021 (SEC File No. 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 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 The risks presented in such filings 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 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. The ability to successfully effect the Proposed Business Combination and the Combined Companys ability to successfully operate the business thereafter will be largely dependent upon the efforts of certain key personnel TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their 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. 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. Forward-looking statements may All references to Dave, we, us or our refer to the business of Dave Inc. and involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. 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 Nov 9, 2022. These statements are based on various 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 2, Disclaimer INDUSTRY AND MARKET DATA Although all information and 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. 0.45x 0.19x Source: Dave Management, consensus broker research. 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. We are cooperating with the CFPB, including producing documents and providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. combined companys common shares on the New York Stock Exchange or Nasdaq following the Proposed Business Combination; (vii) the risk that the Proposed Business Combination disrupts current plans and operations as a result of the announcement combined business. 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, These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. Revenue Transaction Revenue ExtraCash: Dave Bank: We generate 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 USE OF PROJECTIONS This Presentation contains projected financial information. 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. Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. We may never achieve or sustain profitability. statement/prospectus as well as other documents filed with the SEC in connection with the Proposed Business Combination, as these materials will contain important information about VPCC, Dave, and the Proposed Business Combination. Solely for convenience, the trademarks, service Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates However, banking products made available through Dave by our bank partner remain subject to regulation and supervision loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. 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 28 charitable contributions. Archived Events & Presentations. Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. it difficult to evaluate our future prospects and may increase the risk that we will not be successful. 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 Combination when it becomes available. 24 slides. As a result, investors should be aware that although most of the . information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. The CFPB has broad enforcement powers, and upon determining a violation Dave's Benefits & Perks We understand how important it is to get key benefits and perks from an employer. of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. If you hold public warrants of VPCC, VPCC may, in accordance with their terms, redeem your unexpired VPCC warrants prior to their exercise at a time that is disadvantageous to you. 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. Nasdaq. Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our business. 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. transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market The deal was announced in October. those contained in the projected financial information. Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. A data security breach could expose us to liability and protracted and costly litigation, and could adversely affect our reputation and operating revenues. These forward-looking statements are provided for illustrative Note: Dave has not yet completed its 2020 audit and therefore all financial EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 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. 115 Across all relevant mobile The use or display of third parties connection with the Proposed Business Combination. 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. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm 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. Momentus Investor Presentation - Powering In-Space Transportation 02/28/2023 11:00 AM ET. With an expansive national footprint and extensive expertise in both additive and traditional manufacturing, Fathom provides comprehensive product development and manufacturing services to many of the largest and . A PIPE of $210 million was led by Tiger. 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 Source: Dave Management. prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% and subject to change. Investors should carefully consider the As defined by the US Securities and Exchange Commission, a SPAC is a company with no operations that offers securities for cash and places substantially all the offering proceeds into a trust or escrow account for future use in the acquisition of one or more private operating companies. 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 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. established for voting on the Proposed Business Combination. It is not intended to form the Company). 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 by the CFPB. June 2021 (34 slides) 1 of . 1 Unique users historically rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful.