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
Andersen Consulting Enters into a Collaboration Agreement with Ventum Consulting24.3.2026 15:30:00 EET | Press release
Andersen Consulting expands its global platform with the addition of collaborating firm Ventum Consulting, a German-based business transformation and technology consulting firm specializing in digital transformation, enterprise agility, product development, data-driven innovation, and emerging technologies such as AI. Ventum Consulting helps organizations bridge the gap between business and technology by delivering tailored solutions across strategy, process optimization, and IT implementation. The firm’s expertise includes data and AI, cybersecurity, enterprise architecture, sustainability, cloud transformation, and agile enablement, representing only a selection of their comprehensive service portfolio. Ventum Consulting works with clients across industries including automotive and manufacturing, financial services and insurance, healthcare and life sciences, and the public sector to accelerate digital transformation, enhance operational resilience, and drive measurable business valu
SES Taps K2 Space to Accelerate Next-Gen MEO Satellite Network, meoSphere24.3.2026 15:00:00 EET | Press release
SES, a space solutions company, today announced it will deploy meoSphere, a next-generation medium Earth orbit (MEO) satellite network targeted for operation by 2030 and designed to significantly boost the company’s MEO network capacity. The program launches with a close collaboration designed for efficient satellite production. SES will pair its own software-defined payloads, being developed and manufactured in Luxembourg, with an initial 28 high-power satellite platforms developed by K2 Space, representing the first phase of the broader meoSphere rollout. The collaboration gives SES tighter control over key supply-chain elements, compresses the build timeline, and allows the company to manage schedules and costs with precision, laying the foundation for future scalability. meoSphere is SES’s next generation MEO network, significantly boosting global broadband capacity, increasing user data speeds while reducing terminal sizes and costs. These step-change improvements come from advanc
Xsolla and Stevenage FC Launch Charity Campaign With SpecialEffect to Make Gaming Accessible for All24.3.2026 15:00:00 EET | Press release
Xsolla, a global video game commerce company that helps developers launch, grow, and monetize their games, has partnered with Stevenage FC to launch a charity campaign with SpecialEffect in the United Kingdom, a charity dedicated to helping everyone to have the ability to enjoy video games. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260324722671/en/ Graphic: Xsolla Through the Official Partnership of Stevenage FC, Xsolla is donating the kit for the April 6th match vs Blackpool. SpecialEffect will be the primary kit brand for the match and will receive a percentage of the jersey sales leading up to the match and throughout the rest of the season. Xsolla will match donations from jersey sales, with the goal of using the funds to provide up to 50 Accessible Setups to disabled gamers at the end of the 2025-2026 season, and to support programs leading up to the 50th Anniversary Season of Stevenage FC in 2026-2027. This progra
Hyperice Named to Fast Company ’ s Annual List of the World’s Most Innovative Companies of 202624.3.2026 15:00:00 EET | Press release
Hyperice, a high-performance wellness brand,has been named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2026. This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. Alongside the World’s 50 Most Innovative Companies, Fast Company recognizes 720 honorees across 59 sectors and regions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260324707849/en/ The past 12 months have marked one of the most prolific periods of product innovation in Hyperice's history, spanning every major technology category in the company's portfolio. "To be named to Fast Company’s list for a second time is a proud moment for our team and a reflection of the pace at which we are able to innovate," said Jim Huether, CEO of Hyperice. "The Hyperboot with Nike, the Hyperice X 2, Normatec Elite Hips, and the all-new Hypervolt 3 line represent the most ambitious stretc
Miro Acquires Reforge to Help Organizations Navigate the Transition to AI24.3.2026 15:00:00 EET | Press release
Miro®, the AI Innovation Workspace for teams, today announced that it has acquired (subject to customary closing conditions) Reforge, an AI platform for product teams. The deal includes Reforge's team, learning platform, and AI-powered product development tools. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260324623461/en/ Organizations are grappling with how to leverage AI to its full potential. In many cases, the problem is not how to code faster, but deciding what to build. That's the bottleneck slowing companies down today. Miro and Reforge are both solving this challenge for customers – tackling the need to build both at speed and with clear strategic direction. Miro brings a collaborative AI workflows platform that brings teams and AI together to plan, co-create, and build at scale. Reforge brings AI-first product development tools, rigorous frameworks, and expert training that teach teams how to make good decisions
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