For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of The company has attracted institutional investors. These forward-looking statements include, but 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 Changes in laws or regulations, or a failure to This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. avoiding ~$35 overdraft fee from their legacy bank. 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 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 a result, investors should be aware that although most of the . 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, 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 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. We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. 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 unaudited, preliminary and subject to change. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and such Acquisition Company ("SPAC") GigCapital4's IPO was completed in February 2021 Led by a proven management team of experienced entrepreneurs and executives Deep public company management and board experience Extensive global network of TMT business professionals and investors Proven experience with M&A, strategy and technology If we cannot address any RELATED TO THE 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 Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and Business Combination. Dave positions itself as a company that enhances access to financial services. decline. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT and significant pain Up to $200 of Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of 0.45x 0.19x Source: Dave Management, consensus broker research. 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 banks Source: Dave Management. Investor Resources. Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace See Forward-Looking Statements paragraph above. Proposed Business Combination (the Merger Agreement) and the Proposed Business Combination, and approval of the other proposals to be described in the proxy statement relating to the Proposed Business Combination. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook.io. VPCCs vote by VPCCs stockholders in connection with the Proposed Business Combination and other matters as described in the Form S-4, as well as a prospectus of VPCC relating to the offer of the securities to be issued in connection with the The cost of responding to investigations can be substantial and an adverse A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. Following the 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, sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. June 2021 (34 slides) 1 of . 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. 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 AeroFarms home The Vertical Farming, Elevated Flavor company ANY REPRESENTATION TO THE CONTRARY IS Source: Dave Management. 6 3 Maximum proceeds to select existing The risks described below are not the only ones we face. 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 The "Market Opportunity" Slide of the Pitch Deck. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY 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. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm overdraft fees saved management skills Source: Dave Management. harmed. In addition, this users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial notifications sent Highlights focus on community- to users to prevent overspending based Forward-looking statements may Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers 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 in VPCCs final prospectus dated March 4, 2021 (SEC File No. employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. should make such other investigations as they deem necessary. 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. with respect to a potential business combination between Dave Inc. (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business 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 Investing in securities (the Securities) to be issued in connection with the Proposed Business Combination involves a high degree of risk. It is our mission to enable anyone anywhere to participate and succeed in the global . Any $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% We transfer funds to our users daily, which in the aggregate comprise Management does not consider these non-GAAP measures in isolation or as an alternative to You can review a SPAC's proxy, information or tender offer statement in the SEC's EDGAR database. Investor Relations. 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 If our present or any future key banking relationships are terminated and we are Solely for convenience, the trademarks, service marks and trade names referred to in The FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are All subsequent written and oral forward-looking statements concerning VPCC or Dave, the transactions described herein or other matters and attributable to VPCC, Dave or any person acting on their behalf are The use or display of third parties trademarks, service marks, trade names 25th Annual Needham Growth Conference Presentation . user feedback. Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, 1 Capital Raised / Users Acquired Dave: $6 Other Neobanks: $75-100 10M 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. RISK FACTORS The below list of risk factors has been prepared solely prohibit its current operations. See Forward-Looking Statements paragraph above. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. 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. 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / Investor Relations. 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 A data security breach could expose us to liability and protracted and Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. RISKS RELATED TO THE PRIVATE PLACEMENT 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:. platform and our business could suffer. 3Q22 Shareholder Letter 5.8 MB. 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 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). Shares opened at $8.27 apiece under. 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 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 Quarterly Report on Form 10-Q for the three months ended All references to Dave, we, us or our refer to the business of Dave Inc. and its consolidated subsidiaries. The list below is qualified in its entirety by disclosures contained in future documents filed or Actual results may differ materially from the results contemplated by the projected The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. 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. All references to Dave, we, us or our refer to the business of Dave Inc. and Source: Dave management. 2 Calculated as 10 meals per dollar In addition, forward-looking statements reflect VPCCs and Daves expectations, plans or forecasts of future events and 7. costly litigation, and could adversely affect our reputation and operating revenues. 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 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. The risks presented in such filings Solving Legacy Pain Points Building a Better Bank No Overdraft or 20, Instant access to high-impact, low-CAC products More users and more 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. rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. connection with the Proposed Business Combination. 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. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. 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. The PIPE is at $210M with Tiger, Wellington, and Corbin all . December 31, 2020 is unaudited, preliminary and subject to change. EBITDA is defined as earnings before interest, tax and SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. 2 Calculated as 10 meals per dollar donated.Total Meals Overdraft Fees Pledged to Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.
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