VPCC and Dave believe that the use of these non-GAAP financial measures provides an 2, Disclaimer INDUSTRY AND MARKET DATA Although all information and Katapult Transaction :: FinServ Acquisition Corp. (FSRV) avoiding ~$35 overdraft fee from their legacy bank. Companys Securities, may decline. 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 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 of the stockholders of VPCC, certain 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 PDF Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace 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 . Average fees paid per year by Dave customers to legacy banks investors regarding certain financial and business trends relating to Daves financial condition and results of operations. If we cannot address any of the following risks and uncertainties effectively, or any other risks 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. 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 Market data from FactSet as of June 1, 2021. as security holders in the consummation of the Proposed Business Combination. 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) which any statement is based, except as required by law. 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 transactions between Dave and VPCC. 1 Dave users have taken over 30mm of overdraft 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 If you hold public warrants of Dave Terms of Use Link4 Designed by Dave, not a bank. Source: Dave Management. Note: Dave has not yet completed its 2020 audit and therefore all financial May tap into the gig economy for extra help Existing bank relationship ~100- not helping 120mm Getting Living paycheck-to- Login. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). Marketing investment recovered in ~9 months on 1 a gross profit basis Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business USE OF PROJECTIONS This Presentation contains projected financial information. Daves financial statements. 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. 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 The PIPE is at $210M with Tiger, Wellington, and Corbin all . SPAC. 1 Dave users have taken over 30mm of overdraft protection advances, typically RISKS RELATED TO THE PRIVATE PLACEMENT of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 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 1 Affirm estimates showing fiscal year ending in June. SEC Filings | Dave Inc. growth rate. A data security breach could expose us to liability and protracted and costly litigation, and could adversely affect our reputation and operating revenues. 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. See Forward-Looking Statements paragraph above. & 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 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 measures. connection with the operation of their respective businesses. SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. SPAC Presentation Deck by Dave. 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 disposition is exempt from the registration requirements of the Securities Act. Investor Relations. Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. Changes in laws or regulations, or a failure to 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 Investors should be aware that they might be required to bear the final risk of Presentations :: Aurora Innovation, Inc. (AUR) 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. as a private placement to a limited number of institutional accredited investors as defined in Rule 501(a)(1), (2), (3) or (7) under the Act and Institutional Accounts as defined in FINRA Rule 4512(c). the use of our platform and other products and services could decline. information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. that advances Americas collective potential 1 Based on Center for Financial Services Innovation. notifications sent Highlights focus on community- to users to prevent overspending based approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in registration statement on Form S-4 is expected to be filed by VPCC with the SEC. 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 make no representation or warranty, express or implied, as to its accuracy or completeness. The public and private warrants of VPCC are accounted for as liabilities and the changes in The risks presented below are certain of the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. SoFi Q4 2022 Earnings Conference Call. 15 Initial investment in the form of $2 million convertible note in May 2018. statements above. This Presentation shall not Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020.1 Capital Raised / Users Acquired Dave: $6 Other Danny Meyer May Democratize IPOs with SPAC Investment in Panera - Yahoo! This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. We obtain and process a large amount of sensitive data and any real or perceived If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry 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. financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. 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, Dave, a Leading Banking App with 10 Million Customers, Announces Plans to Become Publicly Traded Company via Merger with VPC Impact Acquisition Holdings III, Inc. Dave's mission is to create. Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606. Structure Implied Sources & Uses ($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 Such persons can 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 the results implied by these forward-looking statements. Fraudulent activity involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. The public and private warrants of VPCC are accounted for as 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:. 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. thresholds (25% of all founder shares). 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 Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB 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. 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 0.28 -0.00 ( -1.62% ) Vol: 76,441. To the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. 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 $3,500 renamed Dave and be the go-forward publicly traded company SPAC Cash in Trust OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, The "Market Opportunity" Slide of the Pitch Deck. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, How To Create A Great Investor Pitch Deck For Startups Seeking - Forbes PDF I N V E S T O R P R E S E N T A T I O N - Sunlight Financial If any of these risks materialize or VPCCs or Daves assumptions their investment for an indefinite period of time. A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. operations as a result of the announcement and consummation of the Proposed Business Combination; (viii) the ability to recognize the anticipated benefits of the Proposed Business Combination, which may be affected by, among other things, The Credit Facility contains BlackSky SPAC Investor Presentation Analysis - YouTube Fathom - Investor Relations information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. Dave Other Neobank Incumbent User Journey User Journey Bank User whether the investigation will result in any action, proceeding, fines or penalties against us. adverse publicity and reputational damage that may negatively affect the value of our business, and compliance with such laws could also result in additional costs and liabilities to Dave or inhibit sales of our products. licensor to these trademarks, service marks and trade names. Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E 2022E 2023E ExtraCash point for users without the fees Flagship feature, a pioneer in reinventing overdraft for Americans in 2017 Engenders significant user Instantly access funds by linking an loyalty existing bank account or setting up Note: Dave has not yet completed its 2020 audit and therefore all financial statement in VPCCs final prospectus dated March 4, 2021 (SEC File No. the Securities Exchange Act of 1934, as amended. Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, could suffer. Combination. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are operations as well as our prospects. 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. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or 33RISK FACTORS The below list of risk factors has been prepared solely for purposes of the proposed private placement financing (the Private The use or display of third parties trademarks, service marks, trade names 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, The company has amassed 10 million users with its innovative checking account that was first to market in 2017 with fee-free overdraft, credit building, expense predictions and a gig-economy focused job board. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and such 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 We operate in an uncertain regulatory environment and may from rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business Combination) and for no other purpose. 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. Actual events and circumstances are difficult or impossible to A long-term bet on space tourism After 15 years of design, development, and testing, Virgin Galactic has successfully shown that its. 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. We transfer funds to our users daily, which in the aggregate comprise substantial 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 Katapult Transaction. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in 2019 2020. the go-forward publicly traded company SPAC Cash in Trust 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 Many actual events and circumstances are beyond the control of Dave and VPCC. 1 18 Based on third-party consumer research 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 efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. 333-252577), which was filed with the SEC on March 8, 2021. Gelesis, Inc. Investor Relations 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 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 Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based 3Q22 Shareholder Letter 5.8 MB. These statements are based on various This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and Such persons can also read VPCCs final prospectus dated March 4, 2021 (SEC File No. You can review a SPAC's proxy, information or tender offer statement in the SEC's EDGAR database. 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 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 VPCCs 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 Additionally, all information in Daves financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. Additional risks that we currently do not know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% 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. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. The assumptions and estimates underlying such projected adversely affected. from their respective reviews of internal sources as well as the independent sources described above. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. 5200, Chicago, IL 60606. The transfer of cause actual results to differ materially from those contained in the projected financial information. The list below is qualified in its entirety by disclosures contained in future documents filed or 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. 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: measured as connected bank accounts. 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)
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