DGAP-News: The NAGA Group AG / Key word(s): Investment
- Leading China-based investment group FOSUN invests EUR12.5 million in German FinTech The Naga Group AG
- Largest Series A for Fintechs in Europe 2017
- Expansion of NAGA's trading network "SwipeStox" in focus NAGA and FOSUN to expand business in Asia
(Hamburg / Shanghai) - Leading China-based investment group FOSUN invests EUR12.5 million in Hamburg based FinTech firm THE NAGA GROUP AG.
Today THE NAGA GROUP AG (NAGA) reported one of Europe's largest FinTech Series A investments in 2017 by FOSUN, a global leading Chinese investment group. NAGA specializes in disruptive financial trading technologies and is the brain behind SwipeStox, the social network for stock traders, of which globally distributed users traded more than EUR20 billion within 9 months after launch.
FOSUN Group's founder and chairman Guo Guangchang said: "We are delighted to join forces with a leading innovator in trading technologies. NAGA convinced us with the vision to disrupt the trading space with its experienced team and strong technology focus. We will integrate NAGA and SwipeStox into our group synergy network, which will give NAGA direct access to markets across Asia and the world."
NAGA Group's CEO; Yasin Sebastian Qureshi: "We are excited about our partnership and especially being the first FinTech firm with a solid bridge into China mainland. Being one of Europe's largest early growth investments with only 18 months after incorporation, shows our ambition to grow fast and become a major force as the provider of trading solutions worldwide. Benjamin Bilski, Founder & CEO of SwipeStox adds: "Together with FOSUN we will accelerate our product development for SwipeStox and expand into more areas in the trading ecosystem. We are aiming to become the largest social network for stock traders worldwide."
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THE NAGA GROUP AG:
THE NAGA GROUP AG was founded by Yasin Sebastian Qureshi, Christoph Brück and Benjamin Bilski in August 2015. It's mission: to develop, market and grow disruptive applications in financial technology, all of which aim to bring change and opening to an out-dated financial system. The idea and vision of NAGA was initated by its Founder & CEO Yasin Sebastian Qureshi who is a banking and finance professional and the youngest person in Europe ever to have obtained a banking license. He took his own investment bank public in 2007. In November 2016, NAGA established a Joint Venture with the German Stock exchange to build the world's first in-game item exchange called "SWITEX". The word "Naga" means "Cobra Snake" in Sanskrit and it is the name for the hottest chilli in the world.
Fosun Group was founded in 1992 in Shanghai. Fosun International Limited (00656.HK) was listed on the main board of the Hong Kong Stock Exchange in July, 2007. Fosun Group is now a leading investment group taking roots in China with a global foothold. Fosun Group has been persistently investing in China's growth momentum and focusing on investments in industries related to health, happiness and wealth. It endeavours to build an ecosystem of its businesses and continues to refine the strengths of its products. It has been actively implementing its investment model of "Combining China's Growth Momentum with Global Resources" and always adhering to the value-investing philosophy, aspiring to becoming a world-class investment group.
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