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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 Fraudulent activity thresholds (25% of all founder shares). Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in The loss of such key personnel could negatively impact the operations and financial results of the combined business. 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 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. Momentus Investor Presentation - Powering In-Space Transportation 1 Affirm estimates showing fiscal year ending in June. One of our wholly-owned subsidiaries, Dave OD 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven PCAOB standards. 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 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. of VPCCs stockholders in connection with the Proposed Business Combination. 62 slides. 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 consensus broker research. 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, Fraudulent and To the fullest extent permitted by law, in no View All Posts 115 Across all relevant mobile platforms.Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% 68% Peer-to-Peer B 30% 33% 63% Bank A 26% 29% 55% Bank B 25% 29% 54% Challenger 25% 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE 1Q22 Shareholder Letter 9.1 MB. Dave's Benefits & Perks We understand how important it is to get key benefits and perks from an employer. 12/21. efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. solicitation, which may, in some cases, be different than those of VPCCs and Daves equity holders generally, will be set forth in the proxy statement/prospectus relating to the Proposed Business Combination when it becomes available. 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 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. 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. Allscreen Supported by World-Class Investors 23Highly Experienced Management Team Jason Wilk Kyle Beilman John Wolanin Jarad Fisher Shannon Sullivan Chien Chou CEO CFO Co-founder CCO CPO EVP Engineering Serial Entrepreneur Mia Alexander John Ricci Note: Dave has not yet completed its 2020 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, could suffer. 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 The The transfer of Additionally, all information in Daves financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. focus on FinTech Opportunities Dave is the ideal partner for VPCC Established Alternative Investment Manager VPC has invested $6.0 billion in over 120 transactions globally since inception Differentiated High Growth FinTech Strong 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from Actual results may differ materially from the results contemplated by the projected 2 Calculated as 10 meals per dollar training. 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. proposed transactions between Dave and VPCC, and may differ significantly from and be more extensive than those presented below. 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 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 The Credit Source: Dave Management projections. Victory Park most . 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. Investor Resources. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. The combined companies would have an enterprise value of approximately $9.3 billion, the SPAC said. Such persons can Many actual events and circumstances are beyond the control of Dave and VPCC. 2Q22 Shareholder Letter 6.5 MB. 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 Investing in securities (the Securities) to be issued in connection with the Proposed Business Combination involves a high degree of risk. any exemption under the Securities Act. 115 Across all relevant mobile 01/30/2023 08:00 AM ET. 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. Company). Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and 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 afford a one-time $400 emergencyDaves Estimated Chaos Climbers User TAM Overcoming daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People We depend upon several third-party service providers for processing our transactions. 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 March 31, 2021 filed with the SEC on May 25, 2021 under the heading Risk Factors and other documents of VPCC filed, or to be filed, with the SEC, including those risk factors included in the proxy statement/prospectus contained in the 2023E 41.4% 64.3% 40.4% 30.1% 27.7% 21.9% 23.1% 27.3% 42.8% 2 Growth-Adjusted Revenue Multiples 2022E 0.10x 0.11x 0.23x 0.46x 0.64x 0.57x 0.46x 0.41x 0.25x 2023E 0.16x 0.09x 0.21x 0.27x 0.55x 0.66x 0.60x 0.45x 0.19x Source: Dave Management, These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, We obtain and process a large amount of sensitive data and any real or perceived For example, in May 2020, we Combination. Dave. June 2021 (34 slides) 1 of . the Securities Exchange Act of 1934, as amended. Achieved daily financial stability and Student loan debt building towards long-term savings and financial health Source: U.S. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. EBITDA is defined as earnings 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. and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. 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 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 If we cannot address any Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from 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. December 31, 2020 is unaudited, preliminary and subject to change. transactions between Dave and VPCC. Note: Dave has not yet completed its 2020 audit and therefore all financial 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 01/30/2023. Forward-looking statements may Information concerning the interests of VPCCs and Daves participants in the We are cooperating with the CFPB, including producing documents and If any of our According to an investor presentation, the company generated $122M in revenue in 2020. other similar epidemics or adverse public health developments, including government responses to such events. The Credit Facility contains into the gig economy for extra help Existing bank relationship ~100- not helping 120mm Getting Living paycheck-to- HIPP-sters People paycheck By High Income, Paycheck to Paycheck Building credit A PIPE of $210 million was led by Tiger. We may not be able to scale our business quickly enough to meet our users We may never achieve or sustain The assumptions and estimates underlying such projected financial information are inherently uncertain whether the investigation will result in any action, proceeding, fines or penalties against us. See Forward-Looking Statements paragraph above. Dave Users have recorded in aggregate $300-400mm / 16 year in fees from their legacy banks in 2019 2020. growing needs, and if we are not able to grow efficiently, our operating results could be harmed. banks Source: Dave Management. Some of the its consolidated subsidiaries. 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 financial condition and results of operations. Additionally, all information in Daves You can review a SPAC's proxy, information or tender offer statement in the SEC's EDGAR database. Fraudulent and 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 Currently, founder and CEO of Dave, a leading challenger bank focused on lifting the collective potential of America. 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. note in May 2018.VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a focus on FinTech Opportunities Dave is the ideal partner for VPCC Established Alternative Investment Manager VPC has invested $6.0 billion in over 120 The SPAC Deal: Dave announced a SPAC deal with VPC impact Acquisition Holdings III VPCC , valuing the former at a pro forma equity value of $4 billion. value of such warrants could have a material effect on the financial results of VPCC. 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. 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 Katapult Transaction. Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. See Virgin Galactic's Fall 2019 Investor Presentation. 25. 333-252577), which was filed with the SEC on March 8, 2021. circumstances will VPCC, Dave or any of their respective subsidiaries, shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or 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. financial measures determined in accordance with GAAP. 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. 6 3 Maximum proceeds to select existing securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. Failure by us, or any of our business partners, to comply with applicable laws and regulations could have a material adverse effect on our business, financial position and it difficult to evaluate our future prospects and may increase the risk that we will not be successful. Combination when it becomes available. 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 Rewards, and Side Hustle Source: Dave Management. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers make no representation or warranty, express or implied, as to its accuracy or completeness. IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, a registration statement on Form S-4 is expected to information to management and investors regarding certain financial and business trends relating to Daves financial condition and results of operations. Solely for convenience, the trademarks, service Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. Owlet's $1.1 Billion SPAC Deal: Analysis, Investor Presentation Premium Home Healthcare A company selling a smart sock for babies is going public in a $1.1 billion SPAC deal. Presentation Decks by Dave (3) Investor Day. BlackSky SPAC Investor Presentation Analysis | Merger with SFTW, Osprey Technology | Space Spac Time in the Market 604 subscribers Subscribe 14 Share Save 795 views 1 year ago An analysis of. 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. We depend upon several third-party service providers for processing our Accordingly, the 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, competition, the ability of Dave to grow and manage san gabriel high school famous alumni, jp morgan chase dtc number 902, brad heller age,