dave spac investor presentation
SPAC sponsors generally purchase equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market. Dave cofounder and CEO Jason Wilk announced the SPAC merger on June 7. The consummation of the Proposed protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. 1 Dave users have taken over 30mm of overdraft protection advances, typically registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. Gelesis, Inc. Investor Relations Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) and minimum balance fees Massive and expensive brick / mortar ($10) for the Consumer Finance Startup Dave Eyes Acquisitions, Crypto After SPAC Deal under the Securities Act. 1 18 Based on third-party consumer research commissioned by Dave. The risks presented in such filings However, banking products made available through Dave by our bank partner remain subject to regulation and supervision Transaction Structure Implied Sources & Uses ($mm) Dave to . 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 The financial services industry continues to be targeted by the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. The VPCC board has not obtained and will not obtain a third-party valuation or financial 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 Dec. 2020+ 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 Fraudulent activity 1 Unique users historically In addition, this We operate in an uncertain regulatory environment and may from Business Combination. If we are unable to acquire new customers and retain our current customers or sell additional functionality and services to them, our revenue growth will be 1 Capital Raised / Users Acquired Dave: $6 Other Neobanks: $75-100 10M FinTech Dave Inc Announces Nasdaq Debut | PYMNTS.com The interests of the sponsor. independent sources described above. situations or financial needs. How To Create A Great Investor Pitch Deck For Startups Seeking - Forbes donated. 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 Otonomo to List on Nasdaq with Software Acquisition Group Inc. II transactions globally since inception Differentiated High Growth FinTech Strong Track Record of Investing in FinTech Underpenetrated Market Executed over 60 FinTech transactions since inception Meaningful Barriers to RISKS RELATED TO THE PRIVATE PLACEMENT Presentations | Open Lending 2020 (4 SPACs + Bakkt PIPE transaction) Growing Addressable Market Best In Class Management Team + Strong Risk Management Long-Term Commitment to Dave 1 Financial Industry Longstanding Investment Relationship IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT In connection with the Proposed Business Combination, a registration statement on Form S-4 is expected to opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. SoFi Q4 2022 Earnings Conference Call. financial information are inherently uncertain 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 SPAC. involves a high degree of risk. 24 slides. 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. to download to deposit for navigate financial offerings advance product Deep understanding of user No visibility into users behavior over 30B Unsophisticated approach historical income and transactions; use Machine based on legacy 3 Data participation from Wellington Management Existing Dave Shareholder Equity $3,500 3 VPC and LPs contributing significant capital, highlighting ongoing Cash to Existing Dave Shareholders 60 2 commitment and belief in business Net Cash on 1 18 Based on third-party consumer research Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or other similar epidemics Archived Events & Presentations. Investor Presentation | Virgin Orbit decrease revenue) and, in the event of retroactive application of such laws, subject us to litigation or enforcement actions that could result in the payment of damages, restitution, monetary penalties, injunctive restrictions, or other sanctions, 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. 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. 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. Katapult Transaction :: FinServ Acquisition Corp. (FSRV) January 5, 2021. risks and uncertainties inherent in an investment in us and in the Securities, including those described below, before subscribing for the Securities. 12/21. established for voting on the Proposed Business Combination. Investor Tools. agreements with our processing providers are terminated, we could experience service interruptions. transactions between Dave and VPCC. The list below is qualified in its entirety by disclosures contained in future documents filed or 1 Dave users have taken over 30mm of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of VPCCs directors and executive officers in VPCCs final prospectus by banking regulators and Dave, as a service provider to its bank partner, undertakes certain compliance obligations. Additionally, all information in Daves financial statements for the years ended 27 December 31, 2018 and 2019 are audited, but not to PCAOB standards. 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 prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. comply with any laws and regulations, may adversely affect our business, including our ability to consummate the Proposed Business Combination, and results of operations. 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 immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. 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. Valuation: The SPAC deal values Lucid Motors at $11.75 billion. 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 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 BlackSky SPAC Investor Presentation Analysis - YouTube protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. June 2021 (34 slides) 1 of . sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. commissioned by Dave.Dave Other Neobank Incumbent User Journey User Journey Bank User 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 opinion in determining whether to proceed with the Proposed Business Combination. 25. If any of our agreements with our processing providers are terminated, we could experience service interruptions. RISK FACTORS The below list of risk factors has been prepared solely If you hold public warrants of 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. This 02/28/2023 11:00 AM ET. 33RISK FACTORS The below list of risk factors has been prepared solely for purposes of the proposed private placement financing (the Private Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020. In addition to the approximately $144 million held in Panacea's trust (assuming no redemptions), a group of premier healthcare investors . We obtain and process a large amount of sensitive data and any real or perceived 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, 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. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. We may not be able to scale our business quickly enough to meet our users If we are unable to acquire new customers and retain our current customers and liabilities to Dave or inhibit sales of our products. Nothing herein should be construed as legal, financial, tax or other advice. thresholds (25% of all founder shares). Instantly search thousands of Presentation Decks by world-leading companies on Slidebook.io. 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. 34. results of operations. Dave to Participate at Upcoming Investor Conferences 9 Key Takeaways From The Lucid Motors SPAC Merger Dave, a Leading Banking App with 10 Million Customers, Announces Plans The CFPB has broad enforcement powers, and upon determining a violation of applicable law has occurred can order, among other things, rescission or These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). 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. data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no additional CAC High-impact products significantly revenue-generative even before cross-attach, In addition, this Presentation does not purport to be all inclusive or to contain Total Meals Overdraft Fees Pledged to Charity 2 1 Donated Avoided Jobs Mark Cuban-backed banking app Dave to go public in $4 bln SPAC merger debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. The "Market Opportunity" Slide of the Pitch Deck. Information concerning the interests of VPCCs and Daves participants in the 2022E Cohort Cumulative Cohort Revenue ~$640M Conservative forecast Marketing Expense In projected cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven of VPCCs stockholders in connection with the Proposed Business Combination. 3Q22 Shareholder Letter 5.8 MB. Dave, Inc. has guaranteed the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. The loss of such key personnel could negatively impact the operations and financial results of the combined business. Any growing needs, and if we are not able to grow efficiently, our operating results could be harmed. PARTICIPANTS IN THE The Space SPAC: Everything You Need to Know about Virgin Galactic 6 3 Maximum proceeds to select existing employee shareholders and common equity holders assuming total transaction proceeds in excess of $300mm. 06/21. EV / 2022E Revenue EV / Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x To the fullest extent permitted by law, in no circumstances will VPCC, Dave or any of their respective subsidiaries, 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 If any of these risks materialize or VPCCs or Daves assumptions any exemption under the Securities Act. 5200, Chicago, IL 60606. Login. should make such other investigations as they deem necessary. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, 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. It is not intended to form the BigBear.ai Investor Presentation - GigCapital Special purpose acquisition companies (SPACs) have become a preferred way for many experienced management teams and sponsors to take companies public. overdraft fees saved management skills Source: Dave Management. See Forward-Looking Statements paragraph above. PDF Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are 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. You should consult your own advisers concerning any legal, financial, tax or other considerations concerning Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. standards. Note: Dave has not yet completed its 2020 audit and therefore all financial statement FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are forward-looking statements. A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company. Source: Dave Management. The risks described below are not the only ones we face. notifications regarding violations, limits on activities or functions, remediation of practices, external compliance monitoring and civil money penalties. 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 Presentation Decks by Dave (3) Investor Day. 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. investment decision in respect of the Business Combination. Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, 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. Source: Dave management. Webcast. 19Phased Launch To Date 11 Cant Reconciliations of such non-GAAP basis of any investment decision or any other decisions with respect to the Proposed Business Combination. 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 For example, in May 2020, we There can be no 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 If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may unaudited, preliminary and subject to change. 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. Victory Park most . NO REPRESENTATION OR WARRANTY No representations or warranties, express or implied are given in, or in respect of, the accuracy or the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. Vertical Aerospace - Pioneering electric aviation - Vertical Aerospace 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 . This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. These forward-looking statements are provided for illustrative SoFi Technologies, Inc. (SOFI) - Events & Presentations the opportunity described herein. 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. These forward-looking statements are subject to a number of risks and uncertainties, licensor to these trademarks, service marks and trade names. PDF 'LVFODLPHU - Cantor Fitzgerald We obtained this information and statistics from third-party As a result, investors should be aware that although most of the . Source: Dave Management projections. 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 All subsequent written PDF Momentus Investor Presentation - Powering In-Space Transportation Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. views as of the date of this Presentation. 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. What eToro's investor presentation and $10B valuation - TechCrunch investors regarding certain financial and business trends relating to Daves financial condition and results of operations. new laws or regulations in many jurisdictions, including the U.S. 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 RISKS 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. This Presentation shall not constitute a solicitation as defined in Section 14 of As a result, approximately 20.0% of VPCCs voting securities outstanding, representing PDF AeroFarms home The Vertical Farming, Elevated Flavor company Neither and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote. 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 Wheels Up Experience Inc. - Investor Relations uncertain, evolving and unsettled. 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 some or all of which may be material to our business and results of Has Allowed for User Positioned for Rapid Scaling 2Q21 & Beyond Feedback and Product Optimization ~31% penetration 1.3 mm Dave Bank Users Projected Dave Bank Users of Dave user base 1.2 mm 1.1mm 943k ~95% CAGR 784k 633k 273k 176k 141k 128k 114k remediation of practices, external compliance monitoring and civil money penalties. involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. Investors should be aware that they might be required to bear the final risk of 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 Q2 2022 Earnings Supplement 510.8 KB. Facility contains financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition. amendments thereto and the definitive proxy statement/prospectus as well as other documents filed with the SEC in connection with the Proposed Business Combination, as these materials will contain important information about VPCC, Dave, and the 333-252577), for a description of the security holdings of VPCCs officers and directors and their respective interests as security holders in the consummation of the Business Combination is subject to a number of conditions and if those conditions are not satisfied or waived, the Proposed Business Combination agreement may be terminated in accordance with its terms and the Proposed Business Combination may not 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash product. 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 Payoneer - Investor Relations Users can opt for free advances (1-3 days) or optional We also share in fees charged for out-of-network ATM express fees for faster delivery withdrawals Users also provide voluntary tips Additionally, we generate ancillary revenue from Insights, 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 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. Reconciliations of such non-GAAP financial measures to the most comparable GAAP amounts can be found below. Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September 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.. 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 Presentations | Dave Inc. Following the Presentation relates to the financing of a portion of the Proposed Business Combination through a private placement of VPCCs Class A common stock. 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 Users can opt for free advances (1-3 days) or optional We also We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. Dave, founded in 2016, raised about $61 million before its SPAC deal from investors such as venture-capital firm Norwest Venture Partners. adversely impact the Proposed Business Combination. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. The assumptions and estimates underlying such projected connection with the Proposed Business Combination. 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. Third Quarter 2021 Summary Results Presentation (November 2021) 2.3 MB. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the occurrence of any event, change, or 3, Jason Wilk Kyle Beilman Brendan Carroll Co-Founder and Chief Chief The deal gives Dave a $4 billion valuation, which is quite a boost from the company's 2019 valuation of $1 billion,.