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 KBW Fintech Payments Conference. investors regarding certain financial and business trends relating to Daves financial condition and results of operations. differences may be material. Solving Legacy Pain Points Building a Better Bank No Overdraft or 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 terminated and we are not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. 34RISKS RELATED TO DAVES BUSINESS (Contd) Failure by a $137 $216 % 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. These statements are based on various information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. VPCC and Dave believe that their methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 Presentation does not purport to be all inclusive or to contain all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. You should review the investors SPAC. Information concerning the interests of VPCCs and Daves participants in the In a deal valued at $3.6B (4.9x 2022E revenue) VPCC is taking Dave, a Leading Banking App with 10 Million Customers, public. should make such other investigations as they deem necessary. Investor Relations Resources & Information Company Overview Sonder is revolutionizing hospitality through innovative, tech-powered service and inspiring, thoughtfully designed accommodations combined into one seamlessly managed experience. Fraudulent and forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. those contained in the forward-looking statements. 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 information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 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. (Dave or the Company) and VPC Impact Acquisition Holdings III, Inc. (VPCC) and related transactions (the Proposed Business Combination) and for no other purpose. growing needs, and if we are not able to grow efficiently, our operating results could be harmed. constitute a solicitation as defined in Section 14 of the Securities Exchange Act of 1934, as amended. 2020 is unaudited, preliminary and subject to change. 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. Facebook; Twitter; . Combinations benefits do not meet the expectations of investors or securities analysts, the market price of our securities or, following the consummation of the Proposed Business Combination, the Combined Companys Securities, may The issuance of shares of the Combined Companys securities in connection with the Private Placement will substantially dilute the voting power of the Combined Companys stockholders. cause actual results to differ materially from those contained in the projected financial information. platform and our business could suffer. 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 completion of the Proposed Business Combination. our financial position and results of operations. completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. of its banking platform with modest user adoption costs 17Solving Legacy Pain Points Building a Better Bank No Overdraft or Minimum Balance Insights Fees Access Paycheck 2 Days Early ExtraCash Empowering On- Demand Overdraft Protection Side Hustle '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 &) 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 SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. Access the audio replay here. any exemption under the Securities Act. A data security breach could expose us to liability and protracted and FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated transactions globally since inception Differentiated High Growth FinTech Strong Track Record of Investing in FinTech Underpenetrated Market Executed over 60 FinTech transactions since inception Meaningful Barriers to 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 Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates Accordingly, the Securities must continue to be held unless a subsequent of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . Investor Presentation. Forma Cash 1 87% Existing Dave Shareholders $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 VPCCs stockholders in connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics Proposed Business Combination. 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 Users can opt for free advances (1-3 days) or optional We also Aurora Investor Presentation - February 2023 . Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of If we are unable to acquire new customers and retain our current customers Q3 2021 Earnings Supplement 1.3 MB . 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. Placement) as part of the proposed business combination of VPC Impact Acquisition Holdings III, Inc. (VPCC) and Dave Inc. (the Proposed Business Combination), and solely for potential investors in the proposed 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests as security holders in the consummation of the Additionally, all information in Daves Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs This Presentation contains preliminary information only, is subject to change at any time and any such changes may be material, and, is not, and should not be assumed to be, complete or to constitute all the This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. 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. Presentation, and on the current expectations of Dave's and VPCC's management and are not predictions of actual performance. 2Q22 Shareholder Letter 6.5 MB. Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. costly litigation, and could adversely affect our reputation and operating revenues. 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 harmed. 25. An oversubscribed PIPE deal that saw shares priced at $15 . protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Investor Presentation 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. 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 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 15.6x 15.1x 14.5x 2022E Peer Median: 13.9x 13.7x 12.2x 12.2x 11.6x 2023E Peer Median: 10.5x 10.4x 9.4x 9.1x 8.7x 8.1x 8.0x 6.7x 5.5x 1 DaveFUSEIPOEFTCVUPSTSQLPROAFRMAPT-AU Revenue Growth 2022E 95.2% 79.2% of VPCCs stockholders in connection with the Proposed Business Combination. To the fullest extent permitted by law, in no opinion in determining whether to proceed with the Proposed Business Combination. 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. Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue Dave Dave; SPAC Presentation Deck (June 2021) . Nothing herein should be construed as legal, financial, tax or other advice. established for voting on the Proposed Business Combination. adversely impact the Proposed Business Combination. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash PARTICIPANTS IN THE that advances Americas collective potential 1 Based on Center for Financial Services Innovation. 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 At this time, we are unable to predict the outcome of this CFPB investigation, including 1Q22 Shareholder Letter 9.1 MB. 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, Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace 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 presentation and perform your own due diligence prior to making an investment in Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our business. increases dramatically as users attach to Dave Bank ARPU Uplift reflects mix of new bank (first twelve mos) $43 revenue and increased engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and and liabilities to Dave or inhibit sales of our products. 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 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 EBITDA is defined as earnings liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. 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. 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 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 19Phased Launch To Date Here are some key takeaways for investors to consider for Lucid Motors. adversely affected. training. not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Daves financial statements. Side Hustle; FOLLOW US. investment decision in respect of the Business Combination. 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 Neobanks: $75-100 10M 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. 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. 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 Source: Dave Management. 01/30/2023 08:00 AM ET. 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 obtain or maintain the listing of the obligations or undertaking to release publicly any updates 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 25th Annual Needham Growth Conference Presentation . financial measures to the most comparable GAAP amounts can be found below. 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 . 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. business. This Presentation shall not regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. Dave - SPAC Presentation Deck. Company).