Following the 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 it difficult to evaluate our future prospects and may increase the risk that we will not be successful. The public and private warrants of VPCC are accounted for as liabilities and the changes in 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 To the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). risk control mechanisms may not prevent all fraudulent or illegal activity. Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability of its banking platform with modest user adoption costs 17. The interests of the sponsor. The assumptions and estimates underlying such projected expressly qualified in their entirety by the cautionary statements above. What You Need to Know About SPACs - Updated Investor Bulletin As a result, investors should be aware that although most of the . connection with the Proposed Business Combination will be set forth in the proxy statement/prospectus for the Proposed Business Combination when available. VPCC and Dave believe that the use of these non-GAAP financial measures provides an additional tool for investors to Average fees paid per year by Dave customers to legacy banks the Securities Exchange Act of 1934, as amended. All subsequent written 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E Investors should carefully consider the risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. results of operations. COMPANY. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. Dave, a Leading Banking App with 10 Million Customers, Announces Plans 68% Peer-to-Peer B 30% 33% 63% Bank A 26% 29% 55% Bank B 25% 29% 54% Challenger 25% 25% 50% Bank A Challenger 20% 28% 48% Bank B Very Favorable Somewhat Favorable 4.8 ~1M #1 1 Most Favored Brand App Store Rating Reviews in the Industry Source: which any statement is based, except as required by law. 62 slides. 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 Combined Combination) and for no other purpose. Company). rss_feed RSS Actual results may differ materially from the results contemplated by the projected financial information contained in this We are cooperating with the CFPB, including producing documents and 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 SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, Q2 2022 Earnings Supplement 510.8 KB. If our present or any future key banking relationships are terminated and we are 1 Unique users historically measured as connected bank accounts. Aurora Investor Presentation - February 2023 . Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. Q1 2022 Earnings Supplement 562.6 KB. Minimum Balance Insights Fees Access Paycheck 2 Days Early ExtraCash Empowering On- Demand Overdraft Protection Side Hustle Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability Login. 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. The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash After the Form S-4 has been filed and declared effective, the definitive proxy statement/prospectus will be mailed to VPCCs stockholders as of a record date to be established for voting on the Proposed Business Webcast. 2 Calculated as 10 meals per dollar 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / Q3 2021 Earnings Supplement 1.3 MB . Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22Saving (Q2 Q3) Banking Dec 2020 Side Hustle Nov 2018 ExtraCash / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22, Highly Experienced Management Team Jason Wilk Kyle Beilman John Wolanin ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE The financial services industry continues to be targeted by On your "Market Opportunity" slide you want to: Set forth . Dave's Benefits & Perks We understand how important it is to get key benefits and perks from an employer. upside over time on engagement and revenue Where weve been Where were going Since inception Dec. 2020+ Source: Dave Management. following the announcement of the Merger Agreement and the transactions contemplated therein; (iii) the inability to complete the Proposed Business Combination, including due to failure to obtain approval of the stockholders of VPCC, certain 1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in 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. 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 Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. These forward-looking statements are subject to a number of risks and uncertainties, statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. dave-to-go-public-in-4-billion-spac . The list below is qualified in its entirety by disclosures contained in future documents filed or connection with the Proposed Business Combination. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020.1 Capital Raised / Users Acquired Dave: $6 Other 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, Securities must continue to be held unless a subsequent disposition is exempt from the registration requirements of the Securities Act. Dave SPAC Presentation Deck | Slidebook.io 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and 28 charitable contributions. platforms. NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace Combination. Dave, Inc. has guaranteed 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug 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 scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. Mark Cuban-backed banking app Dave going public via $4 billion SPAC - CNBC 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 Dave Inc. (DAVE) Stock Price, News, Quote & History - Yahoo! Investors want to invest in big opportunities with large addressable markets. Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. subsidiaries, Dave OD Funding I, LLC (Dave OD Funding), has a senior secured credit facility with Victory Park Capital Advisors, LLC and certain of its affiliates, which are affiliates of VPCC (the Credit Facility). EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x We aim to transform weight management through our proprietary biomimetic technology. 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 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 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. its consolidated subsidiaries. The assumptions and estimates underlying such projected financial information are inherently uncertain agreements with our processing providers are terminated, we could experience service interruptions. Ex-99.2 - Sec 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. VPCC and Dave urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus included in the Form S-4 and, when available, the amendments thereto and the definitive proxy What Are SPACs and Should I Care? | Morningstar