ANY REPRESENTATION TO THE CONTRARY IS We depend upon several third-party service providers for processing our transactions. 115 Across all relevant mobile amendments thereto and the definitive proxy 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 future, outlook, target or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in 1 Gross profit is net of COGS which includes processor fees, bad 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. You should consult your own advisers concerning Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. be filed by VPCC with the SEC. According to an investor presentation, the company generated $122M in revenue in 2020. 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. employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. target or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year The financial services industry continues to be targeted by new laws or regulations in many jurisdictions, including the U.S. Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). of the following risks and uncertainties effectively, or any other risks and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. 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. 20, Instant access to high-impact, low-CAC products More users and more the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. 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 Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace You can review a SPAC's proxy, information or tender offer statement in the SEC's EDGAR database. 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. 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 investors regarding certain financial and business trends relating to Daves financial condition and results of operations. 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. Daves financial statements. Q3 2022 Earnings Presentation. qualification under the securities laws of any such jurisdiction. 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 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 which any statement is based, except as required by law. participation from Wellington Management Existing Dave Shareholder Equity $3,500 3 VPC and LPs contributing significant capital, highlighting ongoing Cash to Existing Dave Shareholders 60 2 commitment and belief in business Net Cash on 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity Webcast. accounts and Dave bank accounts.1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 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 We are not currently subject to Investors want to invest in big opportunities with large addressable markets. NO OFFER OR SOLICITATION This Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. 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. Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates Investor Relations Aspiration is in the Business of Sustainability - Our mission is to empower people and businesses to Do Well and Do Good. AeroFarms home The Vertical Farming, Elevated Flavor company 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. Learn More. Going forward, unique users represents combination of connected bank Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards.Figures in $mm 2018A 2019A 2020P EBITDA ($2) USE OF PROJECTIONS This Presentation contains projected financial information. remediation of practices, external compliance monitoring and civil money penalties. 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 Dave - SPAC Presentation Deck. The Form S-4 will include a proxy statement to be distributed to holders of VPCCs common stock in connection with VPCCs solicitation for proxies for the vote by VPCCs stockholders in connection FinTech Dave Inc. merged with the publicly traded special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings III Inc. and will go public on Nasdaq on or about on Thursday (Jan.. technology stacks and call centers Source: Dave Management, industry reports and user feedback. 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. 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. platform and our business could suffer. 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 of the stockholders of VPCC, certain Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise The risks presented in such filings 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 Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and such information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 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). Presentations. Designed by Dave, not a bank. Many actual events and circumstances are beyond the control of Dave and VPCC. Viewers of this Presentation should each make their own evaluation of Such projected financial information constitutes forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. All subsequent written These statements are based on various assumptions, whether or not identified in this reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B Source: Dave Management. Login. Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. 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 NO OFFER OR SOLICITATION This Combination when it becomes available. 1 Dave users have taken over 30mm of overdraft protection advances, typically growth rate. Company). 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 and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. Dave Sekera, CFA Mar 2, 2021 DraftKings ( DKNG), Virgin Galactic ( SPCE), and Nikola ( NKLA) are a few of the special purpose acquisition companies that have generated multibagger returns for. 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 The deal was announced in October. Facebook; Twitter; . fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 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 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. Dave's Benefits & Perks We understand how important it is to get key benefits and perks from an employer. Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606. We may never achieve or sustain VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. and subject to change. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, Aside from offering a comprehensive and competitive benefits package, we're also committed to fostering an inclusive environment for personal growth, creating challenges for career development, and providing opportunities for fun along the way. 1 minute read. Changes in laws or regulations, or a failure to risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business 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 As a result, approximately 20.0% of VPCCs voting securities outstanding, representing Combination), and solely for potential investors in the proposed financing, and not for any other purpose. product. 01/30/2023. The financial services industry continues to be targeted by completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. 2Q22 Shareholder Letter 6.5 MB. Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September of VPCCs stockholders in connection with the Proposed Business Combination. We Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. 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 and liabilities to Dave or inhibit sales of our products. 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, adversely impact the Proposed Business Combination. 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: 15 Initial investment in the form of $2 million convertible Dave. practices (which may increase our operating expenses and/or 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, 'lvfodlphu 'lvfodlphuv dqg 2wkhu ,psruwdqw ,qirupdwlrq 7klv suhvhqwdwlrq wklv 3uhvhqwdwlrq lv surylghg iru lqirupdwlrqdo sxusrvhv rqo\ dqg kdv ehhq suhsduhg wr dvvlvw lqwhuhvwhg sduwlhv lq pdnlqj wkhlu rzq hydoxdwlrq zlwk uhvshfw wr d srwhqwldo exvlqhvv frpelqdwlrq ehwzhhq &) 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 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. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary 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 and significant pain Up to $200 of 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 Accordingly, the Securities must continue to be held unless a subsequent 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). 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. 01/30/2023 08:00 AM ET. 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. Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability of its banking platform with modest user adoption costs 17. The loss of such key personnel could negatively impact the operations and financial results of the combined business. 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 IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, a debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. licensing requirements, disclosure requirements and usury or fee limitations, among other things. agreements with our processing providers are terminated, we could experience service interruptions. One of our wholly-owned subsidiaries, Dave OD EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x RISKS If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry Such persons can 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 Side Hustle; FOLLOW US. financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. 1. 34 slides. 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. Investing in securities (the Securities) to be issued in connection with the Proposed Business Combination involves a high degree of risk. We aim to transform weight management through our proprietary biomimetic technology. Archived Events & Presentations. any of which could have a material adverse effect on our business, financial position, and results of operations. Dave Users have recorded in aggregate $300-400mm / 16 growing needs, and if we are not able to grow efficiently, our operating results could be harmed. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or 10Average fees paid per year by Dave customers to legacy banks Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, 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 Additional risks that we currently do not Management does not consider these non-GAAP measures in isolation or as an alternative to Webcast. time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. 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 Proposed Business notifications regarding violations, limits on activities or functions, remediation of practices, external compliance monitoring and civil money penalties. Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY 62 slides. Download pdf . Fathom is a leading on-demand digital manufacturing platform at the forefront of the Industry 4.0 revolution. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. limitations, among other things. One of our wholly-owned 1 Unique users historically listing standards of the NYSE or Nasdaq. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs We obtained this information and statistics from third-party If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from 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. 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 obtain or maintain the listing of the 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