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, We operate in an uncertain regulatory environment and may from Investor Relations. On your "Market Opportunity" slide you want to: Set forth . 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. Neither Panacea Acquisition today filed an investor presentration on merger partner Nuvation Bio, which is focused on developing cancer treatments. Investor Presentation 33RISK FACTORS The below list of risk factors has been prepared solely for purposes of the proposed private placement financing (the Private 6 3 Maximum proceeds to select existing employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. Rewards, and Side Hustle Source: Dave Management. 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 Investors should be aware that they might be required to bear the final risk of Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. This Presentation shall not constitute a solicitation as defined in Section 14 of Chief 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 4. 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. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. 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. 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 Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. 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. expressly qualified in their entirety by the cautionary statements above. Its . 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, 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 The financial services industry continues to be targeted by there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 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 10, Daves Estimated Chaos Climbers User TAM Overcoming information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 Some of the Dave Other Neobank Incumbent User Journey User Journey Bank User Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT Webcast. Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. remediation of practices, external compliance monitoring and civil money penalties. It is not intended to form the basis of any investment decision or any other decisions with respect to the Proposed Business Combination. As a result, investors should be aware that although most of the . 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 "Market Opportunity" Slide of the Pitch Deck. FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 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 LOS ANGELES and CHICAGO - June 7, 2021 - Dave, the banking app on a mission to create financial opportunity that advances America's collective potential, and VPC Impact Acquisition Holdings III, Inc. (NYSE: VPCC) ("VPCC"), a special purpose acquisition company sponsored by Victory Park Capital ("VPC"), today announced that they have entered into Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. Such persons can A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. We transfer funds to our users daily, which in the aggregate comprise 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 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 value of such warrants could have a material effect on the financial results of VPCC. These statements are based on various 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 . The assumptions and estimates underlying such projected financial information are inherently uncertain 33, RISKS RELATED TO DAVES BUSINESS (Contd) Failure 1. VPCCs 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 sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. 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. 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 / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22Saving (Q2 Q3) Banking Dec 2020 Side Hustle Nov 2018 ExtraCash / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22, Highly Experienced Management Team Jason Wilk Kyle Beilman John Wolanin 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash Average fees paid per year by Dave customers to legacy banks We are a biotherapeutics company built for consumer engagement. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Special purpose acquisition companies (SPACs) have become a preferred way for many experienced management teams and sponsors to take companies public. use in evaluating projected operating results and trends in and in comparing Daves financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. The company through its brand aims to make its. The ability to successfully effect the Proposed Business Combination and the Combined Companys ability to successfully operate the business thereafter will be largely dependent upon the efforts of certain key personnel Economic, political and other conditions may adversely affect trends in consumer spending. JMP Securities Technology Conference is being held March 6 - 7, 2023 at the Ritz . Q3 2021 Earnings Supplement 1.3 MB . includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 45% 56% 62% 57% 59% 62% Service The risks described below are not the only ones we face. Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. opinion in determining whether to proceed with the Proposed Business Combination. under the Securities Act. The consummation of the Proposed it difficult to evaluate our future prospects and may increase the risk that we will not be successful. The loss of such key personnel could negatively impact the operations and financial results of the 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. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other specific product, or a solicitation of any vote or approval, nor shall Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. Management does not consider these non-GAAP measures in 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 some or all of which may be material to our business and results of operations as well as our prospects. Sign Up . platform and our business could suffer. connection with the Proposed Business Combination. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in In addition, this Presentation does not purport to be all inclusive or to contain subsidiaries, Dave OD Funding I, LLC (Dave OD Funding), has a senior secured credit facility with Victory Park Capital Advisors, LLC and certain of its affiliates, which are affiliates of VPCC (the Credit Facility). June 2021 (34 slides) 1 of . 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. 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 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 Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. 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 licensing requirements, disclosure requirements and usury or fee providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. 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 some or all of which may be material to our business and results of HIPP-sters People paycheck By High Income, Paycheck to Paycheck Building credit Achieved daily financial stability and Student loan debt building towards long-term savings and financial health Source: U.S. Changes in laws or regulations, or a failure to comply with any laws and contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). adversely impact the Proposed Business Combination. 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 of VPCCs stockholders in Investor Resources. rights or the right of the applicable licensor to these trademarks, service marks and trade names. 12/21. 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 Combination) and for no other purpose. Third-party consumer research commissioned by Dave. & Tech spending patterns; limits Learning to deliver fast and technology 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 vote by VPCCs stockholders in connection with the Proposed Business Combination and other matters as described in the Form S-4, as well as a prospectus of VPCC relating to the offer of the securities to be issued in connection with the Investor Presentation. 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 Actual events and circumstances are difficult or impossible to All subsequent written licensing requirements, disclosure requirements and usury or fee limitations, among other things. The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products offered by financial technology companies such as Dave is often $389mm of net cash held on the pro forma balance sheet Capitalization PIPE Shareholders Implied Market Capitalization $3,951 SPAC Shareholders 5% 2 (-) Net Cash on Balance Sheet (389) 6% SPAC Sponsor Shares Implied Enterpise Value $3,563 1% disposition is exempt from the registration requirements of the Securities Act. The VPCC board has not obtained and will not obtain a third-party valuation or financial liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. 06/21. 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 . . 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. 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 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 their investment for an indefinite period of time. specific product, or a solicitation of any vote or approval, nor shall there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Charity 2 1 Donated Avoided Jobs Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. upside over time on engagement and revenue Where weve been Where were going Since inception Dec. 2020+ Source: Dave Management. 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 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market Best In Class Management Team + Strong Risk Management Long-Term Commitment to Dave 1 Financial Industry Longstanding Investment Relationship This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. and subject to change. most vulnerable customers footprints Onerous regulatory requirements (capital, interchange) constrain investment Mediocre digital user experience Legacy and antiquated technology stacks and call centers Source: Dave Management, industry reports and Jarad Fisher Shannon Sullivan Chien Chou CEO CFO Co-founder CCO CPO EVP Engineering Serial Entrepreneur Mia Alexander John Ricci Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations 2020 is unaudited, preliminary and subject to change. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. 25. Aurora Analyst & Investor Day Presentation .
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