dave spac investor presentation

7. Learn More. combined companys common shares on the New York Stock Exchange or Nasdaq following the Proposed Business Combination; (vii) the risk that the Proposed Business Combination disrupts current plans and operations as a result of the announcement BigBear.ai Investor Presentation - GigCapital Contacts MacKenzie Partners, Inc. 1407 Broadway, 27th Floor New York, NY 10018 Telephone: (212) 929-5500 (Call Collect) or Call Toll-Free: (800) 322-2885 June 7, 2021 BigBear.ai Investor Presentation efforts of certain key personnel of Dave, all of whom we expect to stay with the Combined Company following the Proposed Business Combination. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. accredited investors as defined in Rule 501(a)(1), (2), (3) or (7) under the Act and Institutional Accounts as defined in FINRA Rule 4512(c). We are not currently subject to Login. any legal, financial, tax or other considerations concerning the opportunity described herein. the results implied by these forward-looking statements. Nothing herein should be construed as legal, financial, tax or other advice. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers be completed. Economic, political and other conditions may adversely affect trends in consumer spending. This document does not contain all the information that should be considered concerning the Proposed Business Combination and is not intended to form the basis of any investment decision or any other Proposed Business Combination. Q2 2022 Earnings Supplement 510.8 KB. You should review the investors 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 . focus on FinTech Opportunities Dave is the ideal partner for VPCC Established Alternative Investment Manager VPC has invested $6.0 billion in over 120 transactions globally since inception Differentiated High Growth FinTech Strong 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 Assumes no VPCC public stockholder redemptions and $210mm PIPE. engagement with core ExtraCash Dave Banking, product Insights, Side Insights, Side Hustle and Hustle and ExtraCash ExtraCash Recent bank revenue trends for Solving Crucial Daily Financial Direct Deposit cohorts suggest Pain Points Platform 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) 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 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 The public and private warrants of VPCC are accounted for as liabilities and the changes in accounts and Dave bank accounts.1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 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 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 Accordingly, the Securities must continue to be held unless a subsequent not be able to continue to operate our business as it is currently operated. completion of the Proposed Business Combination. 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. all of the regulations applicable to traditional banks. 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. situations or financial needs. Many actual events and circumstances are beyond the control of Dave and VPCC. VPCC and Dave believe that these non-GAAP financial measures provide useful information to management and Currently, founder and CEO of Dave, a leading challenger bank focused on lifting the collective potential of America. 2Q22 Shareholder Letter 6.5 MB. registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. presentation and perform your own due diligence prior to making an investment in Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our business. 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. services they need, at Solves immediate breakthrough speed and pricing. Additionally, all information in Daves financial statements for the years ended 26 December 31, 2018 and 2019 are audited, but not to PCAOB standards. differences may be material. risk control mechanisms may not prevent all fraudulent or illegal activity. 1. 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. Archived Events & Presentations. those contained in the forward-looking statements. transactions between Dave and VPCC. The company has attracted institutional investors. rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. The risks presented in such filings will be consistent with those that would be required for a public company in its SEC filings, including with respect to the business and securities of Dave and VPCC and the regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. Inc. has guaranteed 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. contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). 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 Payoneer is the financial technology company empowering the world's small businesses to transact, do business and grow globally. Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. 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. 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. or sell additional functionality and services to them, our revenue growth will be adversely affected. and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties, including many that are outside of VPCCs or Daves control, that could cause actual results to differ materially from Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in 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 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests 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 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 January 5, 2021. Accordingly, the We are subject to governmental regulation and sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. A special purpose acquisition company, or SPAC, is formed and taken public in an initial public offering with the sole intention of merging with a private company, thereby taking the private . If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market Marketing investment recovered in ~9 months on 1 a gross profit basis Dave, Inc. has guaranteed 1 Capital Raised / Users Acquired Dave: $6 Other Neobanks: $75-100 10M ~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 Fraudulent activity involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. 1Q22 Shareholder Letter 9.1 MB. statements above. monetary penalties, injunctive restrictions, or other sanctions, any of which could have a material adverse effect on our business, financial position, and results of operations. These forward-looking statements include, but RISKS RELATED TO THE Investors want to invest in big opportunities with large addressable markets. Mr. Meyer's SPAC, USHG Acquisition Corp. (ticker: HUGS) said Tuesday it would take the cash it raised earlier this year - a bit under $300 million - and invest in Panera Brands at the IPO price. Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Securities Act. 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 We 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. that may be instituted against VPCC and Dave 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 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 including (i) the occurrence of any event, change, or 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 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 NO REPRESENTATION OR WARRANTY No representations or warranties, record of driving significant scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. Application of such requirements and restrictions to Daves products and services could require us to make significant changes to our business practices (which may increase our operating expenses and/or debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. Combination. the Securities Exchange Act of 1934, as amended. daily challenges and navigating chaos to find financial ~10-15mm people without stability ~30-35mm Highest access to a bank account People ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by VPCCs We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. 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. 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. 2019 2020. Allows users to confidently track First neobank to help users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial It is our mission to enable anyone anywhere to participate and succeed in the global . Information concerning the interests of VPCCs and Such persons can also read VPCCs final prospectus dated March 4, 2021 (SEC File No. Download pdf . 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.