dave spac investor presentation

any exemption under the Securities Act. USE OF PROJECTIONS This Presentation contains projected financial information. Additional risks that we currently do not know about or that we currently believe to be immaterial may also impair our business, financial condition or results of operations. Dave Users have recorded in aggregate $300-400mm / 16 Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any proxy statement to be filed by VPCC with the SEC. limitations, among other things. Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs Special purpose acquisition companies (SPACs) have become a preferred way for many experienced management teams and sponsors to take companies public. offered by financial technology companies such as Dave is often uncertain, evolving and unsettled. the VPCC voting securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. merge with VPCC through a reverse-subsidiary merger Sources Dave to become a wholly-owned subsidiary of VPCC, which will be Existing Dave Shareholder Equity $3,500 renamed Dave and be the go-forward publicly traded company SPAC Cash in Trust time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. COMPANY. Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary 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 Transcript. 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / BigBear.ai Investor Presentation - GigCapital A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. Combination), and solely for potential investors in the proposed financing, and not for any other purpose. understanding of user No visibility into users behavior over 30B Unsophisticated approach historical income and transactions; use Machine based on legacy 3 Data & Tech spending patterns; limits Learning to deliver fast and technology We aim to transform weight management through our proprietary biomimetic technology. Solely for convenience, the trademarks, service In addition to the approximately $144 million held in Panacea's trust (assuming no redemptions), a group of premier healthcare investors . Katapult Transaction :: FinServ Acquisition Corp. (FSRV) 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. Some of the NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE Note: Dave has not yet completed its 2020 audit and therefore all financial Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. The combination between Victory Park Capital's blank-check company and the banking app Dave is expected to be complete by the third or fourth quarter. EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x The VPCC board has not obtained and will not obtain a third-party Payoneer is the financial technology company empowering the world's small businesses to transact, do business and grow globally. be filed by VPCC with the SEC. 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. the use of our platform and other products and services could decline. Mark Cuban-Backed Personal Finance App Dave to Go Public in $4 - WSJ 1 Unique users historically measured as connected bank accounts. Jarad Fisher Shannon Sullivan Chien Chou CEO CFO Co-founder CCO CPO EVP Engineering Serial Entrepreneur Mia Alexander John Ricci Paras Chitrakar Grahame Fraser Kate Holmes Brian Li VP Support GC CTO Head of Product VP Design VP Business Operations other similar epidemics or adverse public health developments, including government responses to such events. transactions. Dec. 2020+ Source: Dave Management. 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. Nov 9, 2022. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers A data security breach could expose us to liability and protracted and costly litigation, and could adversely affect our reputation and operating revenues. 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. Average fees paid per year by Dave customers to legacy banks To Invest or Not to Invest in SPACs | Morningstar the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. 1 Unique users historically Management does not consider these non-GAAP measures in 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. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may involves a high degree of risk. Following the valuation or financial opinion in determining whether to proceed with the Proposed Business Combination. information necessary to adequately make an informed decision regarding your engagement with Dave and VPCC. Mark Cuban-backed banking app Dave to go public in $4 bln SPAC merger 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 If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from 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:. You should review the investors presentation and perform your own due diligence prior to making an investment in Our rapid growth also makes Mark Cuban-backed Dave begins trading on Nasdaq after completing SPAC 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm 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. user feedback. The financial services industry continues to be targeted by What eToro's investor presentation and $10B valuation - TechCrunch of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. In addition, this What You Need to Know About SPACs - Updated Investor Bulletin methodology of calculation of EBIT, EBITDA and EBITDA Margin is appropriate, such methodology may not be comparable to that employed by some other companies. Combination. 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 We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. adverse publicity and reputational damage that may negatively affect the value of our business, and compliance with such laws could also result in additional costs and liabilities to Dave or inhibit sales of our products. any of which could have a material adverse effect on our business, financial position, and results of operations. 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 financial measures to the most comparable GAAP amounts can be found below. states we operate in, that could restrict the products and services Dave offers, impose additional compliance costs on Dave, render its current operations unprofitable or even prohibit its current operations. June 2021 (34 slides) 1 of . Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 $137 $216 % To the fullest extent permitted by law, in no Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our 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 listing standards of the NYSE or 02/28/2023 11:00 AM ET. by a 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. 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. Note: Dave has not yet completed its 2020 Going forward, unique users represents combination of connected bank accounts and Dave bank accounts. should make such other investigations as they deem necessary. the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. 1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise If we are unable to acquire new customers and retain our current customers Some data is also based on the good faith estimates of Dave and VPCC, which are derived from their respective reviews of internal sources as well as the SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. expressly qualified in their entirety by the cautionary statements above. 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 $8 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020P 2021E 2022E 2023E Rapid scaling and 60% YoY Proven Login. shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this Presentation, its Profit & Loss Highlight ($mm) 2018A 2019A 2020P 2021E 2022E 2023E 2 Calculated as 10 meals per dollar donated.Total Meals Overdraft Fees Pledged to 13 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. In addition, this Presentation does not purport to be all inclusive or to contain 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. VPCC, VPCC may, in accordance with their terms, redeem your unexpired VPCC warrants prior to their exercise at a time that is disadvantageous to you. Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020. Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. SoFi Technologies, Inc. (SOFI) - Events & Presentations 01/30/2023 08:00 AM ET. 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity afford a one-time $400 emergencyDaves Estimated Chaos Climbers User TAM Overcoming daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People Information concerning the interests of VPCCs and Daves participants in the The VPCC and Dave believe that the use of these non-GAAP financial measures provides an Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management.

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