DGAP-News: 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
DGAP-News: The NAGA Group AG
/ Key word(s): Product Launch/Corporate Action
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. 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.
22.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | The NAGA Group AG |
Hohe Bleichen 12 | |
20354 Hamburg | |
Germany | |
E-mail: | [email protected] |
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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1250971 22.11.2021
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