NAGA Group Secures €12.5m in Funding from FOSUN

Naga Group, a provider of financial services, financial technology, and innovation incubation, has secured one of the largest Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Series A investments in 2017 from FOSUN, helping advance the group’s agenda and growth trajectory moving forward.

FOSUN is a global Chinese investment group – the investment round encompassed over €12.5 million, which will help Naga develop its disruptive financial trading technologies and pursue a stronger technology focus in 2017. Naga is also a key driver behind SwipeStox, a social network for stock traders, which boasts a deep network of globally distributed users trading more than €20 billion within 9 months after launch.

According to NAGA Group's CEO, Yasin Sebastian Qureshi, in a statement on the investment: "We are excited about our partnership and especially being the first FinTech firm with a solid Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met Read this Term 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.”

"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,” explained Benjamin Bilski, founder and CEO of SwipeStox, in an accompanying statement.

“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,” added FOSUN Group's founder and Chairman Guo Guangchang.