The NAGA Group AG Closes USD 30 Million Financing Framework and Reports Record Growth
9.3.2021 11:23:00 EET | Business Wire | Press release
The NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for financial market trading NAGA.com, reports on the largest financing arrangement in the company's history to date and further record growth in February 2021.
NAGA has signed an agreement with the US Fund Yorkville Advisors securing a growth financing framework of up to USD 30 million.
"We are excited about the deal with Yorkville and are setting the course for NAGA to scale even faster. The financing gives us the power and the flexibility to allow the company to be taken to the next level. NAGA is a growth case in a very large and rapidly growing market. This decade will be definitely the breakthrough period for FinTechs", comments NAGA CEO Benjamin Bilski on the closed deal.
In addition, the company reports on preliminary results for February which have once again significantly exceeded the record figures from January 2021.
In February, NAGA achieved a record user growth with 37,000 new accounts and for the first time broke the milestone of 1 million real money transactions and a trading volume of over EUR 20 billion within one month. NAGA's flagship feature "Copy Trading" is growing particularly strong and further proves NAGA's unique selling point. In February more than 560,000 copied trades were executed which marks a steep increase of 75% to the 316,000 trades copied in January. New registrations grew by 45% and the number of real money transactions increased by over 38% compared to the previous month. The comparison to the previous year underlines once more the strong growth metrics: User registration saw an increase of 700% over prior years' month (February 2020: 4,606), whilst 600% more trades were copied (February 2020: 80,000), transactions and trading volume increased by 230% (February 2020: 318,000) and 197% (February 2020: EUR 6.8 billion) respectively compared to February 2020.
"The user growth, and particularly the activity and engagement ratios make us feel very confident. Evidently the concept of social media combined with trading at NAGA works very well. There is a clear shift in user behavior towards platforms like NAGA which combines stocks, cryptocurrencies and community, and it will be our core advantage over competition, especially in the area of customer-acquisition. As communicated before, we have developed a unique growth formula and can precisely control our growth which we have been proving consistently over the past 18 months. We will further increase our investment into marketing & sales especially in the light of the new financing and the fact that our growth yields return. Given our momentum, we will steer more into our social investing experience and maintain our advantages over competition. Growing our user base and increasing transactional activity will become increasingly relevant strategic metrics in 2021," concludes Bilski.
###
About NAGA
NAGA is an innovative fintech company that seamlessly connects personal finance transactions and investments through its social trading platform. The company's proprietary platform offers a range of products from stock trading, investments and cryptocurrencies to a physical Mastercard. 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.
|
Language: |
English |
|
|
Company: |
The NAGA Group AG |
|
|
Hohe Bleichen 12 |
||
|
20354 Hamburg |
||
|
Germany |
||
|
E-mail: |
||
|
Internet: |
||
|
ISIN: |
DE000A161NR7 |
|
|
WKN: |
A161NR |
|
|
Indices: |
Scale 30 |
|
|
Listed: |
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
|
|
EQS News ID: |
1174069 |
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210309005432/en/
Contact information
Benjamin Bilski
Tel:+49 (0)40 5247 79153
Email:ben@naga.com
ingo.janssen@ubj.de
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Xsolla Introduces Integrated Backend and Global Payment Solutions for Games, With Founding Partner AccelByte19.8.2026 16:00:00 EEST | Press release
Xsolla, a global video game commerce company, today introduced integrated backend solutions for game developers through a founding partnership with AccelByte, a fully managed extensible games backend platform, and opened a closed testing program for a combined solution that pairs AccelByte Gaming Services (AGS) with Xsolla's global payments and monetization tools. Select developers can now apply for early access and help shape the integration ahead of its broader launch. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260819624666/en/ Graphic: Xsolla As studios scale live games across PC, mobile, console, and the web, managing player persistence, gaming backend, and global transactions adds cost and slows launches. Through the founding partnership with AccelByte, Xsolla brings AccelByte's backend services together with its own payments and monetization in one integrated stack, so studios no longer need to stitch separate solu
Corpay Cross-Border Named the Official FX Partner of European T20 Premier League19.8.2026 15:30:00 EEST | Press release
Corpay, Inc.*, (NYSE: CPAY) a global leader in corporate payments, is pleased to announce that Corpay’s Cross-Border business has entered into an agreement with the European T20 Premier League (“ETPL”), a new franchise-based tournament sanctioned by the International Cricket Council, created to establish Europe as a dynamic force in the global T20 landscape. Under the agreement, Corpay becomes EPTL’s exclusive and Official Foreign Exchange (FX) Partner, along with being an Official Partner. As the EPTL’s exclusive foreign exchange partner, Corpay Cross-Border will provide the league with comprehensive FX risk management solutions to help mitigate foreign exchange exposure arising from its day-to-day business activities. Corpay Cross-Border’s award-winning platform will also enable the EPTL to streamline global payments through a single point of access. “Corpay Cross-Border is thrilled to be named the exclusive and official FX partner of the European T20 Premier League,” said Brad Loder
Mary Kay Accelerates Beauty Innovation and Digital Transformation19.8.2026 15:00:00 EEST | Press release
Mary Kay Inc. (“Mary Kay”), global iconic leader in beauty and entrepreneurship, announced today transformative business milestones, inviting the next generation to engage with a modernized Mary Kay. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260819989520/en/ Ryan Rogers, Chief Executive Officer of Mary Kay Inc. (Image Credit: Mary Kay Inc.) Statement fromRyan Rogers, Chief Executive Officer of Mary Kay: “We are re-defining the moment for Mary Kay. We are investing in technology and research to create seamless digital experiences while preserving the personal connections and sense of community that have always set Mary Kay apart. From the launch of Mary Kay My Shop to next-generation product innovation and purpose-driven impact, each milestone reflects the momentum behind our transformation. Building on more than 60 years of entrepreneurial legacy, we are reimagining how consumers engage with Mary Kay, meeting them where
Xceedance Appoints Insurance and Technology Executive Adrian Spieler to Board of Directors19.8.2026 15:00:00 EEST | Press release
Xceedance, a global provider of technology-driven business solutions for the insurance industry, today announced the appointment of Adrian Spieler to its Board of Directors, effective immediately. Spieler brings more than 30 years of experience across reinsurance, insurance, and asset management to the Xceedance board. He has served as Chief Operating Officer at Convex Insurance, a leading specialty insurer and reinsurer, since its launch in 2019. Before Convex, he spent 17 years at Swiss Re in a series of senior leadership positions, and later served as Group Chief Administrative Officer at Catlin and as Chief Enterprise Operations Officer and Chief Platform Officer, Insurance, at XL Catlin. As a member of the Xceedance Board of Directors, he will provide strategic guidance, set organizational goals, and measure success as the organization continues its high-growth trajectory. “Technology-enabled transformation is reshaping the insurance and reinsurance industries,” said Spieler, “and
Oscilloquartz expands US aerospace, defense and government presence to address rising demand for resilient PNT19.8.2026 15:00:00 EEST | Press release
Oscilloquartz today announced an expansion of its US aerospace, defense and government presence through agreements with six specialized sales representative firms: ProTEQ Solutions, Southern Marketing Associates (SMA), Testech, TMS Sales, Contech Marketing Associates and Ward/Davis Associates. These partnerships expand regional coverage and deepen customer engagement, addressing growing demand for resilient timing and synchronization in mission-critical applications. “Demand for resilient timing and assured PNT continues to accelerate across aerospace, defense and government applications,” said Tim Weathers, president of Southern Marketing Associates. “Oscilloquartz offers a highly differentiated portfolio of synchronization technologies designed for operation in contested and GNSS-denied environments. We see strong opportunities to help customers strengthen operational resilience and are excited to support the company’s continued expansion in the US market.” The newly appointed repres
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom