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our financial position and results of operations. 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. Accordingly, the 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 1. 1 Gross profit is net of COGS which includes processor fees, bad Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise Dave and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. reformation of contracts, the refund of moneys, restitution, disgorgement or compensation for unjust enrichment, the payment of damages or other monetary relief, public notifications regarding violations, limits on activities or functions, 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 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. those contained in the projected financial information. Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations Allscreen Supported by World-Class Investors 23, Service Revenue Transaction Revenue ExtraCash: Dave Bank: We generate Shares opened at $8.27 apiece under. should not be assumed to be, complete or to constitute all the information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. 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 debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. 10, Daves Estimated Chaos Climbers User TAM Overcoming 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. Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. 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. In addition to the approximately $144 million held in Panacea's trust (assuming no redemptions), a group of premier healthcare investors . Third-party consumer research commissioned by Dave. 1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business Combination) and for no other purpose. VPCCs sponsor, directors 33, RISKS RELATED TO DAVES BUSINESS (Contd) Failure 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 A data security breach could expose us to liability and protracted and The public and private warrants of VPCC are accounted for as To which any statement is based, except as required by law. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, Dave - SPAC Presentation Deck. 3Disclaimer INDUSTRY AND MARKET DATA Although all information and opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Additionally, all information in Daves financial statements for the years 32 ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. 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 Accordingly, the Securities must continue to be held unless a subsequent The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products Login. 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 purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. thresholds (25% of all founder shares). Users can opt for free advances (1-3 days) or optional We also share in fees charged for out-of-network ATM express fees for faster delivery withdrawals Users also provide voluntary tips Additionally, we generate ancillary revenue from Insights, 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: Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace 20, Instant access to high-impact, low-CAC products More users and more 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 Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business Dec. 2020+ Source: Dave Management. and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business practices (which may increase our operating expenses and/or any exemption under the Securities Act. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in PCAOB standards. The assumptions and estimates underlying such projected Fraudulent activity involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. Information concerning the interests of VPCCs and Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers in VPCCs final prospectus 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. 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 Investor Presentation (March 2023) 21.8 MB. Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates See Virgin Galactic's Fall 2019 Investor Presentation. We may never achieve or sustain profitability. If we cannot address any Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act. 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 Actual results may differ materially from the results contemplated by the projected Our Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in of applicable law has occurred can order, among other things, rescission or reformation of contracts, the refund of moneys, restitution, disgorgement or compensation for unjust enrichment, the payment of damages or other monetary relief, public Sign Up. Its . Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers 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 Dave Terms of Use Link4 Designed by Dave, not a bank. Investor Tools. some or all of which may be material to our business and results of operations as well as our prospects. opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. forward-looking statements. forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. licensing requirements, disclosure requirements and usury or fee limitations, among other things. The transfer of conform to Regulation S-X promulgated under the Securities Act. valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. . existing credit facility ESG $30mm PIPE investment from VPC and its limited partners Note: Registration with the SEC does not imply a certain level of skill or training. 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 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. The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. the results implied by these forward-looking statements. One of our wholly-owned subsidiaries, Dave OD Fraudulent activity NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB 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 $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% 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. VPCC and Dave believe that these non-GAAP financial measures provide useful A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. disposition is exempt from the registration requirements of the Securities Act. '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 &) Q3 2021 Earnings Supplement 1.3 MB . 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 Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). 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. information to management and investors regarding certain financial and business trends relating to Daves financial condition and results of operations. 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. We depend upon several third-party service providers for processing our transactions. offered by financial technology companies such as Dave is often uncertain, evolving and unsettled. Momentus Investor Presentation - Powering In-Space Transportation We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. services they need, at Solves immediate breakthrough speed and pricing. its entirety by disclosures contained in future documents filed or furnished by Dave and VPCC, with the U.S. Securities and Exchange Commission (the SEC), including the documents filed or furnished in connection with the proposed proposed transactions between Dave and VPCC, and may differ significantly from and be more extensive than those presented below. 2021 Annual Shareholder Letter 12 MB. decline. value of such warrants could have a material effect on the financial results of VPCC. Note: Dave has not yet completed its 2020 25th Annual Needham Growth Conference Presentation . These statements are based on various Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 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 risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. differences may be material. 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug 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 Neither risk control mechanisms may not prevent all fraudulent or illegal activity. If any of these risks materialize or VPCCs or Daves assumptions Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. transactions between Dave and VPCC. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Proposed Business Combination. 3, Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Chief improvement cross-sell a competitive advantage builds in upside over forecast period Source: Dave Management projections. Investor Resources. projections. If any of our agreements with our processing providers are terminated, we could experience service interruptions. from and be more extensive than those presented below. We obtain and process a large amount of sensitive data and any real or perceived 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. 333-252577), which was filed with the SEC on March 8, 2021. 20ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) increases dramatically as users attach to Dave Bank ARPU Uplift reflects mix of new bank (first twelve mos) $43 revenue and increased All references to Dave, we, us or our refer to the business of Dave Inc. and Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our 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 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 VPCC and Dave believe that these non-GAAP financial measures provide useful information to management and penalties against us. rss_feed RSS If our present or any future key banking relationships are This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any proxy statement to be filed by VPCC with the SEC. We operate in an uncertain regulatory environment and may from This Presentation shall not 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 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 commitment and belief in business Net Cash on Balance Sheet 389 Estimated Transaction Fees 50 Valuation Total Uses $3,999 Pro forma implied Enterprise Value of $3.6bn, which equates to 9.4x 2022E revenue of $377mm 4 Pro Forma Ownership Pro combined business. audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 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). 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. 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 Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended We aim to transform weight management through our proprietary biomimetic technology. 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. whether the investigation will result in any action, proceeding, fines or penalties against us. 25. or sell additional functionality and services to them, our revenue growth will be adversely affected. 1 Unique users historically 1 Gross profit is net of COGS which 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 Were going up against legacy banks and their 1 $30bn of overdraft EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x Q3 2022 Earnings Supplement 958.9 KB. generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, intend, expect, user feedback. 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 the go-forward publicly traded company SPAC Cash in Trust Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is SoFi Q4 2022 Earnings Conference Call. Neither We are cooperating with the CFPB, including producing documents and 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 Investors should carefully consider the constitute a solicitation as defined in Section 14 of the Securities Exchange Act of 1934, as amended. 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 rights or the right of the applicable 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 Daves financial statements. If our present or any future key banking relationships are terminated and we are Victory Park most . 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
