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The NAGA Group AG raises EUR 34 million in its largest funding round to date and announces new software as a service as growth driver

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DGAP-News: The NAGA Group AG / Key word(s): Product Launch/Corporate Action
22.11.2021 / 14:00
The issuer is solely responsible for the content of this announcement.

NAGA raises EUR 34 million in its largest funding round to date and announces new software as a service as growth driver

- 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.

With approximately 5,000 technologically compatible financial services firms globally, this strategic move enables NAGA to select and connect the respective firms seamlessly while at the same time increasing the entire community's user base resulting in viral growth and hence reduced customer acquisition costs for all partners.

As a result of this new offering NAGA is able to access and operate new and existing markets faster and more efficiently, benefiting from local expertise at global scale. White label partners will be able to allow their user base to access the content and trading intelligence from our ever-growing community without giving up control of their own client base and trading flow.

Bilski adds: "Since our inception in 2016 we have always had interest for such a white label solution, it's just that the time wasn't right for us. Given our outstanding growth and bright future we felt that the time for software-as-a-service to become one of our growth drivers has come and I must say, it's exciting. NAGA clients as well as the clients of our partner firms will benefit from an even more enriched and diversified source of trading ideas and hence increasing volumes and performance opportunities. We are already in the process of onboarding and announcing our first partner firms soon."

In addition to the software, NAGA plans to supports its partner firms with marketing budgets, ensuring a successful launch, roll-out and accelerated, sustainable growth of the new business vertical.

More information can be found here: https://www.naga.com/saas

###

 

About NAGA

NAGA is an innovative fintech company that has developed a socially enhanced financial system that creates a unified and seamless experience across personal finance and investing. Its proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical VISA card and social investing features such as a Feed, a Messenger and Auto-Copy. NAGA is a synergistic all-in-one solution that's accessible and inclusive, and that provides a better way to trade, invest, connect, earn, acquire and pay, across both fiat and crypto.

Contact:
The NAGA Group AG
Andreas Luecke
Management Board
Hohe Bleichen 12
20354 Hamburg
T: +49 (0)40 524 77910
E: ir@naga.com


22.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

The NAGA Group AG

Hohe Bleichen 12

20354 Hamburg

Germany

E-mail:

info@naga.com

Internet:

www.naga.com

ISIN:

DE000A161NR7

WKN:

A161NR

Indices:

Scale 30

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1250971


 

End of News

DGAP News Service

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