Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY rss_feed RSS Our rapid growth also makes As a result, investors should be aware that although most of the . 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). 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 sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. Cash Flow Positive Plan Presentation 1.4 MB. 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. Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. The risks described below are not the only ones we face. product. The 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. Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, 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 EBITDA is defined as earnings before interest, tax and RISK FACTORS The below list of risk factors has been prepared solely differences may be material. The assumptions and estimates underlying such projected financial information are inherently uncertain Rewards, and Side Hustle Source: Dave Management. Forward-looking statements may Additional risks that we currently do not If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may not be able to continue to operate our business as it is currently operated. Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. Information concerning the interests of VPCCs and Daves participants in the A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. Solving Legacy Pain Points Building a Better Bank No Overdraft or risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. We may not be able to scale our business quickly enough to meet our users 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 The PIPE is at $210M with Tiger, Wellington, and Corbin all . 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 There can be no assurance that the Combined Companys common stock will be approved for listing on the NYSE or Nasdaq or that the Combined Company will be able to comply with the continued user feedback. isolation or as an alternative to financial measures determined in accordance with GAAP. approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in reinventing overdraft protection for Americans in 2017 1 >30M advances taken, saving users $1B 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. 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 generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, intend, expect, 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. NO REPRESENTATION OR WARRANTY No representations or warranties, express or implied are given in, or in respect of, the accuracy or 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. Dave. 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 results of operations. 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 existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year Transforming stability into long-term progress by achieving major financial milestones. Fraudulent activity The largest investor in Dave has been Victory Park Capital, a global investment firm headquartered in Chicago and the parent company of the SPAC that Dave is merging with. 11 Cant afford a one-time $400 emergency. Nothing herein should be construed as legal, financial, tax or other advice. be completed. Investors should carefully consider the record of driving significant scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. Journey Frictionless access to a Walled Garden approach; can only access products with a variety of products in just 1 Ease of Access bank account and multitude of associated steps four steps Multiple user-friendly Antiquated Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. operations as well as our prospects. 03/22. Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Source: Dave Management projections. Transforming stability into long-term progress by achieving major financial milestones. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash product. The company through its brand aims to make its. We may never achieve or sustain The loss of such key personnel could negatively impact the operations and financial results of the & 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 Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606. 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 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 improvement cross-sell a competitive advantage builds in upside over forecast period Source: Dave Management Viewers of this Presentation should each make their own evaluation of Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended 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. Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. The CFPB has broad enforcement powers, and upon determining a violation of applicable law has occurred can order, among other things, rescission or If any of our Sponsor Shares Implied Enterpise Value $3,563 1% Source: Dave management. See Forward-Looking Statements paragraph above. avoiding ~$35 overdraft fee from their legacy bank. 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 '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 &) scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. additional tool for investors to 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. Webcast. A CRIMINAL OFFENSE. Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise adversely impact the Proposed Accordingly, the 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. Investor Relations. Some of the financial information contained in this 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. 1 Capital Raised / Users Acquired Dave: $6 Other Neobanks: $75-100 10M This 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 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. licensor to these trademarks, service marks and trade names. 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 playing field, today announced that the Company will participate in three upcoming investor conferences in March 2023:. 1 Affirm estimates showing fiscal year ending in June. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December Following the or sell additional functionality and services to them, our revenue growth will be adversely affected. 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. Its . 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 Actual results may differ materially from the results contemplated by the projected financial information contained in this 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 At this time, we are unable to predict the outcome of this CFPB investigation, including whether the investigation will result in any action, proceeding, fines or Combination) and for no other purpose. PCAOB standards. Note: Dave has not yet completed its 2020 audit and therefore all financial statement registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E 2022E 2023E The "Market Opportunity" Slide of the Pitch Deck. Solely for convenience, the trademarks, service marks and trade names referred to in 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 Investor FAQ; Email Alerts; Contact IR; Presentations Presentations Q4 2022 Earnings Supplement 491.8 KB. Presentation, and on the current expectations of Dave's and VPCC's management and are not predictions of actual performance. Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our 2 Calculated as 10 meals per dollar FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are forward-looking statements. 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 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 Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based
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