dave spac investor presentation
adversely impact the Proposed Business Combination. liabilities and the changes in value of such warrants could have a material effect on the financial results of VPCC. the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. 115 Across all relevant mobile The investor presentation is being filed by Otonomo and Software Acquisition with the SEC prior to the call and will be available on the SEC's website at www.sec.gov. intend, expect, should, would, plan, project, forecast, predict, potential, seem, seek, 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) connection with the Proposed Business Combination. Q2 2022 Earnings Supplement 510.8 KB. Our rapid growth also makes This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. of applicable law has occurred can order, among other things, rescission or reformation of contracts, the refund of moneys, restitution, disgorgement or compensation for unjust enrichment, the payment of damages or other monetary relief, public debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. 20ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) increases dramatically as users attach to Dave Bank ARPU Uplift reflects mix of new bank (first twelve mos) $43 revenue and increased 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 Nov 9, 2022. 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. The VPCC board has not obtained and will not obtain a third-party valuation or financial 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. Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise adversely impact the Proposed This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other Ex-99.2 - Sec To Invest or Not to Invest in SPACs | Morningstar 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. 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 1 Unique users historically measured as connected bank accounts. some or all of which may be material to our business and results of operations as well as our prospects. Economic, political and other conditions may adversely affect trends in consumer spending. Investor Relations. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business 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 Note: Dave has not yet completed its 2020 audit and therefore all financial 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. Dave Users have recorded in aggregate $300-400mm / 16 HIPP-sters People paycheck By High Income, Paycheck to Paycheck Building credit Achieved daily financial stability and Student loan debt building towards long-term savings and financial health Source: U.S. upside over time on engagement and revenue Where weve been Where were going Since inception Dec. 2020+ Source: Dave Management. Sponsor Shares Implied Enterpise Value $3,563 1% Source: Dave management. Mark Cuban-Backed Banking App Dave Gets SPAC Deal: What Investors includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions.1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue 45% 56% 62% 57% 59% 62% Service comply with any laws and regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. Dave's Benefits & Perks We understand how important it is to get key benefits and perks from an employer. FinTech Dave Inc Announces Nasdaq Debut | PYMNTS.com PARTICIPANTS IN THE SOLICITATION VPCC, Dave and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. Merger Agreement or could otherwise 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 This Presentation shall not If we are unable to keep pace with the rapid technological developments in our industry and the larger financial services industry 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. 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. user feedback. Changes in laws or regulations, or a failure to Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise Its . 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 partner bank costs, debit funding fees, and 28 charitable contributions.Marketing investment recovered in ~9 months on 1 a gross profit basis 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. views as of the date of this Presentation. 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 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 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 by the CFPB. There can be no assurance that the Combined Companys common stock will be approved for listing on the NYSE or Nasdaq or that the Combined Company will be able to comply with the continued Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of 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 conform to Regulation S-X promulgated under the Securities Act. 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. audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. The company has amassed 10 million users with its innovative checking account that was first to market in 2017 with fee-free overdraft, credit building, expense predictions and a gig-economy focused job board. 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm of overdraft INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY These forward-looking statements are subject to a number of risks and uncertainties, 5200, Chicago, IL 60606. 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 platforms. Revenue Transaction Revenue ExtraCash: Dave Bank: We generate 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 Otonomo to List on Nasdaq with Software Acquisition Group Inc. II & 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 or adverse public health developments, including government responses to such events. Katapult Transaction :: FinServ Acquisition Corp. (FSRV) The risks described below are not the only ones we face. 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
