Hamburg, October 24th, 2023 - The NAGA GROUP (XETRA: N4G, ISIN: DE000A161NR7), provider of the All-in-One Financial Super App, NAGA, informs about changes for its outstanding convertible bonds and shares exciting product updates accelerating global expansion.
Global expansion fueled by new SaaS partnership. NAGA Communities feature going live in Mexico
Following its reported positive footprint in emerging markets, NAGA is pleased to announce its White-Label product offering is fully operational and will imminently launch its first ever White-label partnership. A regulated online-brokerage from Kuwait will launch its own branded version using NAGA’s innovative frontend and backend technology to expand social trading in the Middle East. A further, new revenue stream will thereby be added with the SaaS vertical generating platform fees as well as transaction based and volume-driven income.
Additionally, NAGA developed a unique “Communities” feature allowing certain super-influencers, trading educators and partners to run and promote their very own social trading community with a fully custom and branded version of the NAGA Platform.
“In the course of our R&D and engineering efforts, we have identified a problem for our existing super influencers and partners who manage their communities using ordinary Social Media apps such as Instagram, Facebook or Telegram where communication and trading activity is disconnected. With the NAGA communities feature, Influencers can utilize all our social media features which are instantly connected with the trading platform and run their very own community branded as their own platform. This will drive more personalized engagement and identification of the community as a whole”, comments Founder & CIO Benjamin Bilski on the latest product innovation.
The communities platform went live in Mexico on October 20th, whilst the SaaS partnership is expected to yield first results in this quarter.
NAGA avoids dilution for existing shareholders
NAGA repaid the majority of the convertible bonds and renegotiated terms for its outstanding convertible bonds issued in April 2023.
The holder of the remaining convertible bonds is not exercising the conversion right, so that no equity dilution for existing shareholders will occur.
NAGA is an innovative fintech company that seamlessly connects personal finance transactions and investments through its social proprietary trading platform. The company's platform offers a range of products from stock trading, investments and cryptocurrencies to a physical VISA card. Additionally, the platform allows for exchanges with other traders, provides relevant information in the feed, and autocopy features for successful members' trades. NAGA is a synergistic total solution that is easily accessible and inclusive. It provides an improved foundation to trade, invest, network, earn and pay. This applies to both fiat and crypto products.