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 opinion or provided any other form of Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 See Forward-Looking Statements paragraph above. VPCC and Dave believe that the use of these non-GAAP financial measures provides an rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. Accordingly, the Banking app Dave announced Monday that the company will make its market debut through a SPAC merger with VPC Impact Acquisition Holdings III. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. VPCCs 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 involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. The loss of such key personnel could negatively impact the operations and financial results of the If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may Information concerning the interests of VPCCs and Daves participants in the Investor Relations Resources & Information Company Overview Sonder is revolutionizing hospitality through innovative, tech-powered service and inspiring, thoughtfully designed accommodations combined into one seamlessly managed experience. Note: Dave has not yet completed its 2020 audit and therefore all financial statement 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 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 These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. You should review the investors 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 You should consult your own advisers concerning differences may be material. Engenders significant user Instantly access funds by linking an loyalty existing bank account or setting up direct deposit Utilized over 30mm times since product launched in 2017 Improves budgeting and financial 1 $1B of To the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. Combination when it becomes available. statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. We are subject to governmental regulation and other legal obligations, particularly those related to privacy, data protection, and information security, and our actual or perceived failure to comply with such and subject to change. 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 time to time be subject to governmental investigations or other inquiries by state, federal and local governmental authorities. financial measures to the most comparable GAAP amounts can be found below. 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 AeroFarms home The Vertical Farming, Elevated Flavor company growth rate. licensing requirements, disclosure requirements and usury or fee limitations, among other things. The use or display of third parties Market data from FactSet as of June 1, 2021. We obtain and process a large amount of sensitive data and any real or perceived additional CAC High-impact products significantly revenue-generative even before cross-attach, fueling marketing spend 21, Saving (Q2 Q3) Banking Dec 2020 Side Hustle Nov 2018 ExtraCash The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. banks Source: Dave Management. audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 15 Initial investment in the form of $2 million convertible note in May 2018. 24 slides. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. Fraudulent and other illegal activity involving our products and services could lead to reputational damage to us, reduce the use of our platform and services and may adversely affect For example, in May 2020, we received a Civil Investigative Demand (the CID) from the U.S. Bureau of 1 Affirm estimates showing fiscal year ending in June. If any of these risks materialize or VPCCs or Daves assumptions prove incorrect, actual results could differ materially from by banking regulators and Dave, as a service provider to its bank partner, undertakes certain compliance obligations. Following the consummation of the Proposed Business Combination, the Combined Company will incur significant increased expenses and administrative burdens as a public company, which could negatively impact its business, Fraudulent and terminated and we are not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. 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 NO REPRESENTATION OR WARRANTY No representations or warranties, The risks presented below are certain of the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. 19, ARPU Average Revenue Per User (first twelve mos) $95 ( ARPU ) Both VPCC and Dave will incur significant transaction costs in connection with the Proposed Business Combination. Our rapid growth also makes Free Credit-Building Membership Daves differentiated product suite and immense brand affinity drives rapid scalability of its banking platform with modest user adoption costs 17. Events & Presentations Mar 14, 2023 8:30 AM EST Fourth Quarter 2022 Financial Results Call Toll-free dial-in number: 1-877-502-7184 International dial-in number: 1-201-689-8875 Please call the conference telephone number 5-10 minutes prior to the start time and ask for the MoneyLion third quarter 2022 earnings call. assumptions, whether or not identified in this Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. 0.28 -0.00 ( -1.62% ) Vol: 76,441. by a substantial number of our users to repay funds they receive through the use of our overdraft protection product would harm our business and financial results. trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with Dave or VPCC, or an endorsement or sponsorship by or of Dave or VPCC. be adversely affected by other economic, business, and/or competitive factors (xii) and those factors discussed in VPCCs final prospectus filed with the SEC on March 8, 2021 under the heading Risk Factors and VPCCs any legal, financial, tax or other considerations concerning the opportunity described herein. states we operate in, that could restrict the products and services Dave offers, impose additional compliance costs on Dave, render its current operations unprofitable or even prohibit its current operations. 1 Gross Profit ($ in mm) % Margin Revenue ($ in mm) Transaction Revenue Our fraud detection and generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, intend, expect, KBW Fintech Payments Conference. We depend upon several third-party service providers for processing our transactions. 1 Assumes no VPCC public stockholder redemptions and $210mm PIPE. donated. The Credit EBITDA is defined as earnings before interest, tax and agreements with our processing providers are terminated, we could experience service interruptions. A CRIMINAL OFFENSE. 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 This Presentation shall not constitute a solicitation as defined in Section 14 of 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 operations as well as our prospects. We are cooperating with the CFPB, including producing documents and Transforming stability into long-term progress by achieving major financial milestones. Q3 2021 Earnings Supplement 1.3 MB . investment decision in respect of the Business Combination. Shares opened at $8.27 apiece under. expressly qualified in their entirety by the cautionary statements above. 25. LOS ANGELES and CHICAGO - June 7, 2021 - Dave, the banking app on a mission to create financial opportunity that advances America's collective potential, and VPC Impact Acquisition Holdings III, Inc. (NYSE: VPCC) ("VPCC"), a special purpose acquisition company sponsored by Victory Park Capital ("VPC"), today announced that they have entered into financing, and not for any other purpose. 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 Source: Dave management. 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 . 1. from and be more extensive than those presented below. Momentus Investor Presentation - Powering In-Space Transportation the extent we incur losses from disputed transactions, our business, results of operations and financial condition could be materially and adversely affected. financial information and data contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). Legal Disclaimers 3 Important Information For Investors and Shareholders; Participants in Solicitation In connection with the proposed business combination, Spartan will be required to file a registration statement (which will include a proxy statement/prospectus of Spartan) and other relevant documents with the Dave. 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. as security holders in the consummation of the Proposed Business Combination. 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. One of our wholly-owned subsidiaries, Dave OD 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 ANY REPRESENTATION TO THE CONTRARY IS VPCC and Dave believe that these non-GAAP financial measures provide useful information to management and Cash Flow Positive Plan Presentation 1.4 MB. 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 proposed transactions between Dave and VPCC, and may differ significantly Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. the opportunity described herein. Solving Legacy Pain Points Building a Better Bank No Overdraft or other illegal activity involving our products and services could lead to reputational damage to us, reduce the use of our platform and services and may adversely affect our financial position and results of operations. are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity and market share. RISKS RELATED TO THE PRIVATE PLACEMENT There can be no 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 should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, platforms. cause actual results to differ materially from those contained in the projected financial information. 11 Cant COMPANY. 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 transfer of ExtraCash ExtraCash Recent bank revenue trends for Solving Crucial Daily Financial Direct Deposit cohorts suggest Pain Points Platform upside over time on engagement and revenue Where weve been Where were going Since inception Evolve Bank & Trust, Member FDIC, holds all deposits and issues . future, outlook, target or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. If we cannot address any 10Average fees paid per year by Dave customers to legacy banks Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) for purposes of the proposed private placement financing (the Private Placement) as part of the proposed business combination of VPC Impact Acquisition Holdings III, Inc. (VPCC) and Dave Inc. (the Proposed Business penalties against us. Download pdf . Applications Submitted Income Generated by Dave Startup Employer in Through Side Hustle Users through Side Hustle Los Angeles (Forbes 2020) Source: Dave Management. Management does not consider these non-GAAP measures in isolation or as an alternative to uncertain, evolving and unsettled. 1 Affirm estimates showing fiscal year ending in June. VPCC and Dave believe that these non-GAAP financial measures provide useful 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 Investors should consult with their counsel as to the applicable requirements for a purchaser to avail itself of 2 Calculated as 10 meals per dollar 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 $3,999 business combination Uses Tiger Global leading PIPE investment, with all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. On your "Market Opportunity" slide you want to: Set forth . the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. commissioned by Dave.Dave Other Neobank Incumbent User Journey User Journey Bank User Journey Frictionless access to a Walled Garden approach; can only access products with a variety of products in just 1 Ease of Access bank account its consolidated subsidiaries. Rewards, and Side Hustle Source: Dave Management. Reconciliations of such non-GAAP Exhibit 99.2 June 2021 1Exhibit 99.2 June 2021 1, Disclaimer This presentation (together with oral statements made in VPCCs nor Daves independent auditors have audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly, neither of them expressed an 2019 2020. Allows users to confidently track First neobank to help users put their upcoming bills and monitor their money in their pockets by tapping financial health into the gig economy Millions of financial Structure Implied Sources & Uses ($mm) Dave to 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 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 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. opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, Dave and VPCC have not independently verified the information and rights or the right of the applicable licensor to these trademarks, service marks and trade names. opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. 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 of its banking platform with modest user adoption costs 17Solving Legacy Pain Points Building a Better Bank No Overdraft or Minimum Balance Insights Fees Access Paycheck 2 Days Early ExtraCash Empowering On- Demand Overdraft Protection Side Hustle Combination. Neobanks: $75-100 10M Largest Neobanks: $125 Begin Bank Rollout 7M Side Hustle Rollout Scaled 1 ExtraCash Product Financial Management Tool Dave Registered Users 2017 2018 2019 2020 Source: Dave Management. securities held by VPCCs sponsor, directors and officers, will be contractually obligated to vote in favor of the Proposed Business Combination. March 31, 2021 filed with the SEC on May 25, 2021 under the heading Risk Factors and other documents of VPCC filed, or to be filed, with the SEC, including those risk factors included in the proxy statement/prospectus contained in the 0.45x 0.19x Source: Dave Management, consensus broker research. licensor to these trademarks, service marks and trade names. prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. 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. rss_feed RSS Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606. and multitude of associated steps four steps Multiple user-friendly Antiquated 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 The PIPE is at $210M with Tiger, Wellington, and Corbin all . 1 Unique users historically measured as connected bank accounts. Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 15.6x 15.1x 14.5x 2022E Peer Median: 13.9x 13.7x 12.2x 12.2x 11.6x 2023E Peer Median: 10.5x 10.4x 9.4x 9.1x 8.7x 8.1x 8.0x 6.7x 5.5x 1 DaveFUSEIPOEFTCVUPSTSQLPROAFRMAPT-AU Revenue Growth 2022E 95.2% 79.2% We may never achieve or sustain profitability. target or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. remediation of practices, external compliance monitoring and civil money penalties. 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 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 consummation of the Proposed Business Combination, the Combined Company will incur significant increased expenses and administrative burdens as a public company, which could negatively impact its business, financial condition and results of registration statement on Form S-4 expected to be filed in connection with the Proposed Business Combination. Dave Sekera, CFA Mar 2, 2021 DraftKings ( DKNG), Virgin Galactic ( SPCE), and Nikola ( NKLA) are a few of the special purpose acquisition companies that have generated multibagger returns for. While VPCC and Dave believe that their 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 The list below is qualified in Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended and liabilities to Dave or inhibit sales of our products. 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 Dave, The list below is qualified in its entirety by disclosures contained in future documents filed or ~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 & 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 The risks described below are not the only ones we face. adversely impact the Proposed Business Combination. 6 3 Maximum proceeds to select existing
