Nextech3D.ai Receives $2 Million in Cash From $400 million FinTech Ratio Tech
Martech Outlook | Thursday, May 18, 2023
With access to a $400 million credit facility, Ratio is able to fund Nextech3D.ai Accounts Receivables With Zero dilution For The Foreseeable Future
TORONTO, O.N, Canada - Nextech3D.AI (formally “Nextech AR Solutions Corp'' or the “Company”) (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is pleased to announce that it has received an initial $2,000,000 cash infusion from FinTech Ratio Tech representing zero-dilutive funding. The $2,000,000 in cash was paid against future invoices that the Company has contracts for but has not yet been paid for. The Company views this new relationship with Ratio as a substantial long-term positive for shareholders as it provides almost unlimited access to a non-dilutive capital source for its purchase orders, some of which are contracts with 12-36 month terms. This new access to non-dilutive capital on these long-dated purchase orders has greatly enhanced Nextech3D.ai’s financial flexibility.
Evan Gappelberg, CEO of Nextech3D.ai comments “The Company is pleased to have Ratio Technology as its partner and to be able to secure this $2million in growth capital at such a critical time in our growth curve, especially without selling a single share of stock, warrants or even granting options. This non-dilutive capital represents a major win for shareholders and sets the stage for rapid growth without dilution.” He continues “This $2million in growth capital is going to be used primarily to continue to build out our breakthrough generative AI. With our breakthrough generative AI for 3D modeling, we expect to see rapidly improving profit margins in the second half of 2023, which when combined with access to non-dilutive capital positions us for being able to self-fund our growth, which is our goal in 2023 and beyond.”
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The Company has not issued any security or securities including common shares, options or warrants in connection with this $2,000,000 cash infusion. The interest rate is prime plus 3.5%.
With Nextech’s breakthrough Generative-AI technology, the Company believes it has revolutionized the 3D modeling industry, and gained a major competitive edge solidifying its leadership position in the global 3D model space for ecommerce. Nextech3D.ai is making it possible to create photo-realistic 3D models as digital replicas of real-world products at scale for large enterprise customers in the ecommerce market.
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