From Nayax Website
Nayax, an Israeli fintech startup that offers a global commerce enablement and payments platform designed to help merchants scale their business, is buying up Retail Pro, a retail Point of Sale (POS) software company, for $36.5 million in cash. Meanwhile, Israeli video software startup Guidde raised $11.6 million in a Series A round of investment for its AI video software adoption platform. The company has now raised $15.6 million to date.
Co-founded in 2020 by CEO Yoav Einav and VP Product Dan Sahar, Guidde calls itself the generative AI platform enabling teams to deliver know-how 11x faster for easy sharing with customers or employees. Market leading companies use Guidde video documentation to answer customer questions, onboard and train employees and drive self-service, enabling teams to perform better.
The company boasts that it is the first and only video platform designed for software enablement that enables you to capture, organize and share videos at the point of need – embedded inside an app, accessible via a dedicated web app or available directly from a browser on any app.
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“Software apps have become essential to businesses of all types yet adoption challenges such as knowledge sharing, onboarding, training, and support remains an ongoing pain point across the board,” said Yoav Einav, Co-Founder and CEO of Guidde. “What today’s software is missing is an effective navigation system. At Guidde we are building the ‘Waze for software’, which helps you navigate any application using video. In today’s landscape, if users struggle to grasp a product’s functionality, they’re unlikely to remain engaged. We’ve harnessed generative AI to craft a solution that boosts application adoption, engagement, and retention rates.”
As for the Nayax acquisition of Retail Pro, both have received unanimous approval by each company’s governing body for the transaction. The purchase consists of an initial payment of approximately $20 million in cash at closing and the remainder, subject to certain earnout targets being met, paid over three years in either cash or equity as determined by Nayax.
For the fiscal year 2022, Retail Pro generated approximately $14 million in adjusted revenue and approximately $4 million in Adjusted EBITDA.
Retail Pro offers a retail management software that serves the needs of specialty retailers worldwide. Retail Pro builds on the omnichannel concept to “give you an intelligent, scalable platform for controlled expansion. Retail Pro provides native retail functions to serve critical POS, customer engagement, e-commerce, store stock management and replenishment needs.”
Founded in 2005 by CEO Yair Nechmad and CTO David Ben-Avi, Nayax, is publicly traded on the NASDAQ. The company says that since 2005, we’ve been at the forefront of the cashless payment revolution, offering innovative IoT services and management solutions for unattended retail.
“We are pleased to be joining forces with Retail Pro’s talented expert team. Our combined businesses, together with Retail Pro’s 80 distributors, will triple our access to the global attended retail market and create a powerful and complete solution with Nayax’s payment and loyalty platform. We believe this combined offering will result in an unrivaled value of innovative retail solutions,” said Nayax’s CEO and Chairman of the Board Yair Nechmad about the acquisition of Retail Pro.
