fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. Q2 2022 Earnings Supplement 510.8 KB. VPCCs nor Daves independent auditors have audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly, neither of them expressed an all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. Some data is also based on the good faith estimates of Dave and VPCC, which are derived Investor Presentation (March 2023) 21.8 MB. Presentations | Open Lending Aspiration Investor Relations 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. 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 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 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. If we cannot address any registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. Additionally, all information in Daves Companys Securities, may decline. 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. 1 minute read. The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products offered by financial technology companies such as Dave is often investment decision in respect of the Business Combination. 1 Affirm estimates showing fiscal year ending in June. 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 Investor Day March 2022 Investor Presentation December 2021 Similar slides by Dave . Jobs at Dave - Fintech Careers - Current Openings Presentations | Sonder Holdings Inc. 33RISK FACTORS The below list of risk factors has been prepared solely for purposes of the proposed private placement financing (the Private 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. Dave App to Go Public Through SPAC, Not IPO - Market Realist 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. You should review the investors presentation and perform your own due diligence prior to making an investment in Dave uses software and data to offer everyday Americans the financial 24 slides. As a result, approximately 20.0% of VPCCs voting securities outstanding, representing 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 completion of the Proposed Business Combination. . Facebook; Twitter; . We depend upon several third-party service providers for processing our services they need, at Solves immediate breakthrough speed and pricing. 4 Reflects zero dilution from warrants and excludes impact of founder shares based on vesting 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 All references to Dave, we, us or our refer to the business of Dave Inc. and its consolidated subsidiaries. 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 03/22. Webcast. valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. most vulnerable customers footprints Onerous regulatory requirements (capital, interchange) constrain investment Mediocre digital user experience Legacy and antiquated technology stacks and call centers Source: Dave Management, industry reports and We may never achieve or sustain profitability. 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 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from 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 NO REPRESENTATION OR WARRANTY No representations or warranties, Figures in $mm 2018A 2019A 2020P EBITDA ($2) $6 $8 (-) Stock-Based RISKS RELATED TO THE 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 The transfer of the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. Combination) and for no other purpose. Neither Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. Investor Tools. 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. Login. adversely affected. express or implied are given in, or in respect of, the accuracy or completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. substantial 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. 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:. 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 record of driving significant 2021 Annual Shareholder Letter 12 MB. 1 Unique users historically measured as connected bank accounts. Dave and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. The Space SPAC: Everything You Need to Know about Virgin Galactic Dave Other Neobank Incumbent User Journey User Journey Bank User Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB The financial services industry continues to be targeted by contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. 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. 11 Cant We may not be able to scale our business quickly enough to meet our users growing needs, and if we are not able to grow efficiently, our operating results could be 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 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 their investment for an indefinite period of time. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or 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. 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 consensus broker research. Any offering of securities (the Securities) will not be registered under the Securities Act of 1933, as amended (the Securities Act), and will be offered VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a trademarks, service marks, trade names 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. While VPCC and Dave believe that their upside over time on engagement and revenue Where weve been Where were going Since inception Dec. 2020+ Source: Dave Management. 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% Note: Dave has not yet completed its 2020 audit and therefore all financial After the Form S-4 has been filed and declared effective, the definitive proxy statement/prospectus will be mailed to VPCCs stockholders as of a record date to be 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 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 Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. Even if VPCC consummates the business combination, there can be no assurance that VPCCs public warrants will be in the money during their exercise period, and they may expire worthless. 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, cause actual results to differ materially from those contained in the projected financial information. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in our financial position and results of operations. operations. The risks presented in such filings A CRIMINAL OFFENSE. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks in If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, VPC Impact Drops on Dave Deal, More SPAC Votes Ahead On your "Market Opportunity" slide you want to: Set forth . situations or financial needs. We are cooperating with the CFPB, including producing documents and Transaction Structure Implied Sources & Uses ($mm) Dave to This EBITDA is defined as earnings before interest, tax and 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. Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, 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 protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Following the To the extent that our products are deemed to be subject to any such laws, we could be subject to additional compliance obligations, including state licensing requirements, disclosure requirements and usury or fee Aurora Analyst & Investor Day Presentation . 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, Investing in securities (the Securities) to be issued in connection with the Proposed Business Combination involves a high degree of risk. Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry necessary to continue providing our users with new and innovative products and services, SoFi Q4 2022 Earnings Conference Call. combined business. Dave Dave; SPAC Presentation Deck (June 2021) . 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. However, banking products made available through Dave by our bank partner remain subject to regulation and supervision by banking regulators and Dave, as a service provider to its bank partner, 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. Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace Average fees paid per year by Dave customers to legacy banks SPAC sponsors generally purchase equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market.