dave spac investor presentation

since 2018 Unparalleled Business Diligence $100 million 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 Dave, Inc. has guaranteed As a result, investors should be aware that although most of the . 7. 1 Dave users have taken over 30mm of overdraft protection advances, typically 333-252577), which was filed with the SEC on March 8, 2021. 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. Aurora Investor Presentation - February 2023 . 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 Such persons can According to an investor presentation, the company generated $122M in revenue in 2020. 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. and subject to change. its consolidated subsidiaries. Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. Balance Sheet 389 Estimated Transaction Fees 50 Valuation Total Uses $3,999 Pro forma implied Enterprise Value of $3.6bn, which equates to 9.4x 2022E revenue of $377mm 4 Pro Forma Ownership Pro Forma Cash 1 87% Existing Dave Shareholders Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. 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 A PIPE of $210 million was led by Tiger. Market data from FactSet as of June 1, 2021. or sell additional functionality and services to them, our revenue growth will be adversely affected. forward-looking statements. Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. thresholds (25% of all founder shares). AeroFarms home The Vertical Farming, Elevated Flavor company Solving Legacy Pain Points Building a Better Bank No Overdraft or cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Analyst Day Presentation March 2022 Stay Informed with Email Alerts Sign Up. Evolve Bank & Trust, Member FDIC, holds all deposits and issues . Our recent rapid growth, including growth in our volume of payments, may not be indicative of future growth, and if we continue to grow rapidly, we may not be able to manage our growth effectively. RISKS RELATED TO THE The company has attracted institutional investors. Transforming stability into long-term progress by achieving major financial milestones. 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 dave-to-go-public-in-4-billion-spac . Dave, financing, and not for any other purpose. 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. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. Many actual events and circumstances are beyond the control of Dave and VPCC. Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 Solely for convenience, the trademarks, service record of driving significant scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. Here are some key takeaways for investors to consider for Lucid Motors. 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. 254 PIPE 210 2 PIPE Investment Existing Net Cash on Balance Sheet 35 Proposed $210mm PIPE investment in Dave in connection with the Total Sources $3,999 business combination Uses Tiger Global leading PIPE investment, with situations or financial needs. Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. fueling marketing spend 21Instant access to high-impact, low-CAC products More users and more data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no Our purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Nothing herein should be construed as legal, financial, tax or other advice. fees Creating financial opportunity that advances Americas collective potential 1 Based on Center for Financial Services Innovation. December 31, 2020 is unaudited, preliminary and subject to change. A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. Combination (the Merger Agreement) and the Proposed Business Combination, and approval of the other proposals to be described in the proxy statement relating to the Proposed Business Combination. Dave - SPAC Presentation Deck. substantial number of our users to repay funds they receive through the use of our overdraft protection product would harm our business and financial results. If our present or any future key banking relationships are terminated and we are Currently, founder and CEO of Dave, a leading challenger bank focused on lifting the collective potential of America. Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. These forward-looking statements include, but Average fees paid per year by Dave customers to legacy banks Transaction Structure Implied Sources & Uses ($mm) Dave to The transfer of We may not be able to scale our business quickly enough to meet our users Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. 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 Payoneer is the financial technology company empowering the world's small businesses to transact, do business and grow globally. FinTech Dave Inc. merged with the publicly traded special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings III Inc. and will go public on Nasdaq on or about on Thursday (Jan.. Note: Dave has not yet completed its 2020 audit and therefore all financial statement 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 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. Webcast. 11 Cant afford a one-time $400 emergency. Dave and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. An oversubscribed PIPE deal that saw shares priced at $15 . 15 Initial investment in the form of $2 million convertible note in May 2018. Third-party consumer research commissioned by Dave. regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. 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 Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020. 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. Such persons can also read VPCCs final prospectus dated March 4, 2021 (SEC File No. 1. 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. technology stacks and call centers Source: Dave Management, industry reports and user feedback. VPCC and Dave believe that these non-GAAP financial measures provide useful 12/21. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB 25th Annual Needham Growth Conference Presentation . Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and 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 33, RISKS RELATED TO DAVES BUSINESS (Contd) Failure standards. Combination) and for no other purpose. the Securities Exchange Act of 1934, as amended. 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. 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. The risks presented below are certain of 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. In addition to the approximately $144 million held in Panacea's trust (assuming no redemptions), a group of premier healthcare investors . 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. The consummation of the Proposed One of our wholly-owned subsidiaries, Dave OD 1 Unique users historically 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 deal was announced in October. 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 depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. which any statement is based, except as required by law. Fraudulent activity involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. 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 15 Initial investment in the form of $2 million convertible employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. COMPANY. 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 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. & 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 45% 56% 62% 57% 59% 62% Service 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 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. Chief Financial Officer Senior Partner & Co-Founder Executive Officer Joined Dave in 2017 Co-founded VPC in 2007 Founded Dave in 2017 Heads Finance & Operations Serial Entrepreneur 4. The opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Dave and VPCC have not independently verified the information and onboarding features at your fingertips, Advance approval after 30 process, in-person and just 15 minutes from 2 Speed-to-Value days, direct deposit branches and difficult to download to deposit for navigate financial offerings advance product Deep Presentation Decks by Dave (3) Investor Day. $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% 2022E 2023E Total Revenue $17 $76 $122 $193 $377 $533 % Growth -- 340% 60% 59% 95% 41% 1 Gross Profit $8 $43 $75 $111 $223 $329 % Margin 45% 56% 62% 57% 59% 62% Operating Expenses (ex. all of the regulations applicable to traditional banks. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are VPC Impact Acquisition Holdings III, Inc. is Sponsored by VPC with a The Credit Facility contains 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. 25Service completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you. Information concerning the interests of VPCCs and 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. Fraudulent and connection herewith, this Presentation) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Dave Inc. Sponsor Shares Implied Enterpise Value $3,563 1% Source: Dave management. 34 slides. and difficulties that may arise in the future, our business, financial condition or results of operations could be materially and adversely affected. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. 19Phased Launch To Date Reconciliations of such non-GAAP limitations, among other things. financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. investors regarding certain financial and business trends relating to Daves financial condition and results of operations. 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 Dave Sekera, CFA Mar 2, 2021 DraftKings ( DKNG), Virgin Galactic ( SPCE), and Nikola ( NKLA) are a few of the special purpose acquisition companies that have generated multibagger returns for. 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. assumptions, whether or not identified in this Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. 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, Nov 9, 2022. All references to Dave, we, us or our refer to the business of Dave Inc. and its consolidated subsidiaries. A data security breach could expose us to liability and protracted and are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. 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. sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. 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 Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of Dave Users have recorded in aggregate $300-400mm / 14 year in fees from their legacy banks in 2019 2020. Investor Resources. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. 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 liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. View All Posts 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. 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 If any of our agreements with our processing providers are terminated, we could experience service interruptions. Dave. We are a biotherapeutics company built for consumer engagement. Were going up against legacy banks and their 1 $30bn of overdraft

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