Rezolve, a leader in mobile commerce and engagement, has entered into a definitive business combination agreement with Armada Acquisition Corp. I, a publicly traded special purpose acquisition company. Upon closing of the transaction, the combined company’s shares are expected to trade on the NASDAQ under the ticker symbol “ZONE”.

“Rezolve sits at the intersection of eCommerce enablement, digital payments, and eMarketing technology,” said Betsy Cohen, a SPAC investor that has agreed to invest in the combined company, in a statement. “They have developed proprietary technology with a powerful partner-driven business model that could lead to rapid growth in the still nascent but potentially massive mobile commerce market.”

“Douglas Lurio and I set out to find a company that had carved out a unique position in the FinTech sector, with a recurring revenue model at an inflection point where our additional capital and expertise could drive rapid accelerating growth,” said Armada chairman and CEO Stephen Herbert, in a statement. “We believe that we have found that with Rezolve. We believe that Rezolve is a potential market leader and that our valuation of Rezolve is priced at a significant discount to our selected publicly traded peers.”

“I believe that Rezolve has the potential to eventually become one of the most successful ecommerce companies in the world and that’s why I have been investing in Rezolve from the early rounds and why I am stepping up my investment in Rezolve in this transaction now,” said Christian Angermayer, the founder of investment firm Apeiron Investment Group, in a statement. “I deeply believe that this is just the beginning of something very big.”

Rezolve is an enterprise SaaS platform designed from the ground up specifically for mobile commerce and engagement. The platform allows merchants and brands to convert media into an interactive experience on a mobile device, which can drive a meaningful increase in consumer engagement and purchase activity. Rezolve currently has go-to-market partner agreements with leading global players that have a combined global reach of over 20 million merchants and over 1 billion consumers across China, Asia, and Europe. Rezolve’s platform already serves over 150,000 of those merchants today.

Rezolve founder and CEO Dan Wagner has been building eCommerce businesses for over 35 years and will continue to lead the combined company following the close of the transaction. “We are doing for mobile commerce what Shopify and BigCommerce Holdings have done for web commerce,” said Wagner in a statement. “We believe mobile commerce is the future and our proprietary technology enables physical merchants to tap into this potentially massive opportunity. I have been working on this problem since 2007 and founded Rezolve in 2016 to solve it. We now have the technology platform solution and go-to-market partnerships that strongly positions Rezolve to take advantage of what we see as a near 500-billion-dollar global market opportunity over time. We expect the proceeds from this transaction will allow us to significantly accelerate adoption and market growth going forward.”