NAGA Secures Another €34 Million as Growth Capital

Hamburg-based NAGA Group (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), which operates a popular social Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, announced on Friday that it has completed a fresh share placement, thus securing a total of €34 million in growth capital.

The proceeds will be utilized by the company in financing global growth and enhanced marketing measures.

NAGA has already received a guarantee of €30 million in capital over the next three years from US Fund Yorkville Advisors in a deal closed earlier this year and has withdrawn an initial €8 million. In addition, the company raised another €22.7 million from several investors, including Christian Angermayer and Igor Lychagov, the Founder of Exness.

The latest placement consisted of 4,223,250 shares at a subscription price of €8 per share. It was placed with European financial investors, along with qualified investors in Germany and other selected jurisdictions excluding the United States.

Moreover, the announcement details that Hauck & Aufhäuser acted as the Sole Global Coordinator and Sole Bookrunner for the transactions of the share placement.

Demand Is Rising

NAGA is known for its flagship copy and social trading platform. But, the company is now expanding its services in other areas: it has launched a payment platform, global stock trading services and a non-fungible token (NFT) platform only in recent months.

Furthermore, the demand for NAGA’s services is soaring as the company has been posting growth in its revenue continuously for several quarters. It generated a record $21 million in revenue in Q3 of 2021, witnessing monthly and yearly jumps of 38 percent and 157 percent, respectively.

Meanwhile, the latest capital raise that was made at a premium price at the close on Thursday of the publicly listed NAGA shares drove up demand for the company shares. As of press time, NAGA share prices have jumped by more than 4 percent since the opening of the market on Friday.