Dubai - Sharikat Mubasher: Pathfinder, a leader in pioneering retail technology solutions, announced closing a $325 million fund round from Silver Rock Group to support the launching of its newest platform RetailGPT.
This equity line of credit coincides with Pathfinder's upcoming NASDAQ listing, marking a critical phase in the company's expansion and innovation efforts, according to a recent press release.
This strategic funding, set to commence from the first day of Pathfinder's listing on NASDAQ in Q4 2024, marks a pivotal development in the company's growth trajectory.
Silver Rock Group will provide Pathfinder with up to $325 million over the next three years, starting Q4 2024. This substantial financial backing is poised to support the continuous development and global rollout of the RetailGPT platform, ensuring Pathfinder remains at the cutting edge of retail technology.
RetailGPT is a revolutionary digital platform powered by Gen AI that acts as an extension of physical stores into the digital world. The smartphone-based app allows retailers to harness the insights of customer data to optimize processes, customer experience, and profitability; it offers shoppers a seamless platform for personalized shopping, integrating retailer rewards and offers, while adapting to individual user habits to tailor product suggestions.
Sadique Ahmed, CEO of Pathfinder, expressed enthusiasm about the partnership, stating: "This robust support from Silver Rock Group validates the transformative potential of RetailGPT. This funding enables us to pursue ambitious growth plans and innovate at scale. We are eager to advance our journey, pioneering new ways for retailers to engage with their customers."
The infusion of capital will substantially enhance Pathfinder's capacity for innovation and broaden its market reach, affirming its role as a frontrunner in the Phygital Commerce sector. Silver Rock Group's commitment underscores its confidence in Pathfinder's vision and strategic direction, promising to revolutionize the retail landscape.
Fueled by this partnership, Pathfinder will accelerate its research and development, expand into new markets, and refine its technology stack better to serve the evolving demands of the retail industry. This initiative will not only bolster Pathfinder's financial footing but will also fortify its credibility and market presence as it steps into the NASDAQ spotlight.
