NAGA Group Secures $30 Million Financing as Demand Soars
- The share price of the broker jumped over 6 percent in early Tuesday’s trading session.
NAGA Group AG (Xetra Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Read this Term: N4G), a German social trading-focused FX and CFDs broker, announced on Tuesday that it has signed an agreement with US Fund Yorkville Advisors for securing capital financing of up to $30 million over the next three years.
The broker will issue convertible notes to receive the proceeds. The funding will be done in tranches and NAGA confirmed to Finance Magnates that it will withdraw an initial €8 million immediately.
“We are excited about the deal with Yorkville and are setting the course for NAGA to scale even faster,” said NAGA CEO, Benjamin Bilski.
“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 definitely be the breakthrough period for FinTechs.”
Ending Another Excellent Month
Indeed, the financing came when NAGA was witnessing excellent growth across all its business metrics.
The publicly listed broker revealed that it passed the milestone of 1 million monthly transactions with a total trading volume of €20 billion in February. These numbers were achieved with the addition of 37,000 new trading accounts last month.
NAGA is known for offering its flagship copy trading services, but it has expanded its services aggressively over the years. It launched digital payments services last November and is eying international expansions with regulatory approvals in Australia and South Africa.
In addition, the German broker elaborated that the demand for its copy trading services in February jumped by 75 percent month-on-month and new registrations increased by 45 percent.
“The user growth, and particularly the activity and engagement ratios make us feel very confident,” Bilski added. “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 Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, and community, and it will be our core advantage over competition, especially in the area of customer acquisition. 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.”
NAGA Group AG (Xetra Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Xetra is an international securities trading venue, operated by the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse). An overwhelming majority of turnover on German exchanges goes through Xetra, making it one of the most important venues in the local market.Xetra operates as the reference market for exchange trading in German shares and exchange-traded funds (ETFs). The price fixing on Xetra is conducted via defined and transparent rules. Despite its importance to the German market, Xetra Read this Term: N4G), a German social trading-focused FX and CFDs broker, announced on Tuesday that it has signed an agreement with US Fund Yorkville Advisors for securing capital financing of up to $30 million over the next three years.
The broker will issue convertible notes to receive the proceeds. The funding will be done in tranches and NAGA confirmed to Finance Magnates that it will withdraw an initial €8 million immediately.
“We are excited about the deal with Yorkville and are setting the course for NAGA to scale even faster,” said NAGA CEO, Benjamin Bilski.
“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 definitely be the breakthrough period for FinTechs.”
Ending Another Excellent Month
Indeed, the financing came when NAGA was witnessing excellent growth across all its business metrics.
The publicly listed broker revealed that it passed the milestone of 1 million monthly transactions with a total trading volume of €20 billion in February. These numbers were achieved with the addition of 37,000 new trading accounts last month.
NAGA is known for offering its flagship copy trading services, but it has expanded its services aggressively over the years. It launched digital payments services last November and is eying international expansions with regulatory approvals in Australia and South Africa.
In addition, the German broker elaborated that the demand for its copy trading services in February jumped by 75 percent month-on-month and new registrations increased by 45 percent.
“The user growth, and particularly the activity and engagement ratios make us feel very confident,” Bilski added. “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 Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, and community, and it will be our core advantage over competition, especially in the area of customer acquisition. 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.”