• NAGA has concluded on a capital increase with total proceeds of EUR 34 million
• Renowned financial investors join cap table
• Further focus on global expansion and growth acceleration
Hamburg, 22th November 2021 - NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for trading, cryptocurrencies and payments NAGA.com, announces its largest equity financing round to date.
“In the past weeks the investor demand was very high, hence we decided in light of our ambitious growth plans for the upcoming years to further strengthen our capital base. Especially regarding our geographical expansion plans, we are planning to look into strategic M&A opportunities”, said Benjamin Bilski, Founder & CEO of NAGA.
Following strong growth in 2021, the launch of NAGA Pay and the plans for an NFT platform and further development of its cryptocurrency business, NAGA will use the proceeds to accelerate the growth of its services, expand into new regions and invest into hiring of new global talent.
Bilski adds: “The investing landscape is shifting towards mobile-led platforms that offer an inclusive product offering, attractive pricing and an exciting user experience. NAGA combines all these elements. We are committed to expand NAGAs services, grow our community and become one of the leading investing platforms globally.”
NAGA launches new revenue vertical increasing global reach
Given NAGAs success in democratizing trading and revolutionizing the community investing approach through its unique technology and inclusive offering, the Group decided in a strategic move for the first time, to offer selected partner firms around the world a white label software product, a move that places NAGA into the software-as-a service (SaaS) realm and effectively into a new revenue vertical.