THE-NAGA-GROUP-AG
The NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the All-in-One Financial Super-App NAGA, is pleased to announce that the Extraordinary General Meeting of the Shareholders which took place on April 12th has given the green light for the merger with CAPEX.com with a vote of 99.81%.
During the EGM, the newly appointed CEO of NAGA AG, Octavian Patrascu, put forward the vision for the “New NAGA”, which boasts a new regulatory framework of 9 licenses (with 2 additional in the process of approval) and 12 offices worldwide, increasing the global reach of the Group and ability to service over 100 countries. Vouching to sustain the company’s mission to democratize access to financial markets, Patrascu presented the roadmap for the company’s product and the expected seamless integration of all 4 financial verticals into a unified ecosystem for the user, the NAGA SuperApp.
Key highlights from his presentation include:
- Market Expansion: Detailed plans to propel NAGA into new and untapped markets, broadening the company's global footprint and harnessing new customer segments. This move is expected to significantly boost the company's market share and strengthen its position in the competitive financial technology landscape.
- Product and App Enhancements: Recognizing the pivotal role of technology in financial services, he announced major upgrades to the NAGA app, focusing on improving user experience. The product development roadmap includes improving the community-based ecosystem, AI integrations and unique features empowering the users to become creators of their own financial instruments.
- NAGA SuperApp: Introduced plans to unify all existing NAGA services into a single, integrated platform – the NAGA SuperApp, creating a unified ecosystem, offering users a complete range of services ranging from trading and investing to crypto, neo-banking and personal finance management.
- Merger with CAPEX.com: Pending regulatory approval and the entry of the general meeting resolutions in the commercial register, the strategic merger is designed to boost NAGA’s financial efficiency, capitalizing on the synergies between the two companies (internal evaluation shows that these can exceed $10 million per year). NAGA will additionally benefit from Capex’s skilled management which has a proven track record, with a core team that has been working beside Octavian Patrascu for over 15 years. Additionally, joint strategies are expected to improve marketing efficiency, reducing client acquisition costs, and boosting brand reach and recognition.
Octavian Patrascu commented on the strong confidence vote: “This EGM was a first for me as the CEO of NAGA Group and I'm excited that it resulted in the approval of the merger and the new proposed Supervisory Board, with such a significant voting majority. Securing this vote will allow us, after the regulatory approvals for the merger, to execute the new business plan. We are expanding the global reach of NAGA and upgrading the SuperApp to offer a true all-in-one user experience, unique in the world of Fintech.”
After the merger approval, Patrascu is positioned to become NAGA's majority shareholder, with a personal financial investment in the deal. He brings to NAGA over 15 years of experience in founding and leading companies to achieve global prominence.
Being the Founder and CEO of CAPEX.com, he orchestrated its expansion to a global presence with six licenses, turning it into a multinational powerhouse with hundreds of employees and offices across four continents. With 3 major exits from high-profile ventures such as Trade.com, Markets.com, and Vector Watch, his track record demonstrates a consistent ability to identify growth opportunities, navigate complex market dynamics, and deliver exceptional outcomes.
The “New NAGA” is set to benefit from an expanded userbase of over 1.6 million registered users to date and a roadmap to achieve over 5 million registered users by 2025/26. Leveraging NAGA’s technological ecosystem on the existing clients of Capex and respectively using Capex’s international operational and licensing infrastructure to optimize NAGA’s client base will drive an improved Client lifetime value and overall profitability. After the merger, NAGA will be able to draw from the broader talent pool and local presence offered by the 9 local CAPEX offices.
About NAGA
NAGA is a leading German Fintech Company offering a SuperApp with the aim to merge social trading, investing in stocks, crypto, and neo banking into one unified platform, powered by its proprietary advanced technology. Operating in over 100 countries with 9 local offices, NAGA offers a diverse range of services for both fiat and cryptocurrencies. The platform features a physical VISA card with fiat and automatic crypto conversion plus cashback, dynamic social feeds, and advanced autocopy functions, enabling users to replicate the strategies of successful traders. Designed for a global community, NAGA provides an inclusive and efficient financial ecosystem for personal finance and trading.
Language: |
English |
|
Company: |
The NAGA Group AG Hohe Bleichen 12 20354 Hamburg Germany |
|
E-mail: |
||
Internet: |
||
ISIN: |
DE000A161NR7 |
|
WKN: |
A161NR |
|
Indices: |
Scale 30 |
|
Listed: |
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange |
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240422873077/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Andersen Global tilføjer tilstedeværelse i Fiji med Howards Lawyers18.1.2025 22:23:00 CET | Pressemeddelelse
Andersen Global styrker sin tilstedeværelse i Asien og Stillehavsområdet ved en samarbejdsaftale med det førende kommercielle advokatfirma Howards Lawyers i Republikken Fiji. Howards blev grundlagt i 1986 og ledes af Managing Partner William "Wylie" Clarke. Det er en virksomhed med speciale i turisme, bankvirksomhed og infrastruktur. De betjener multinationale virksomheder, statslige enheder, enkeltpersoner med høj nettoværdi og kunder på tværs af offentlige og private sektorer med omfattende juridiske tjenester og ekspertise inden for ledelse, arbejdsret, kommercielle transaktioner, virksomhedsfinansiering, sikkerhedsdokumentation, inddrivelse af gæld, miljølovgivning , byggeri, luftfart, selskabsret og kontraktret. "Fiji fungerer som indgangsport til det sydlige Stillehav og giver uovertrufne muligheder for konnektivitet med virksomheder, der ekspanderer ind i regionen," siger Wylie. "Som et af Fijis veletablerede advokatfirmaer er vi fortsat forpligtet på at levere enestående kundes
Hero MotoSports Team Rally Secures an Impressive 7th Place Overall Finish at Dakar Rally 202517.1.2025 21:31:00 CET | Press release
The Indian Manufacturer Team’s Second-Best Dakar Performance in Nine Years Hero MotoSports Team Rally, the motorsport team of the world’s largest manufacturer of motorcycles and scooters - Hero MotoCorp, has successfully completed the Dakar Rally 2025, reinforcing its position as a formidable force in the world’s toughest rally. The team completed this year’s rally at overall 7th position, registering its second best Dakar performance in nine years, after it finished 2nd overall at the world’s toughest rally last year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250117472643/en/ Hero MotoSports at Dakar Rally Stage 12 (Photo: Business Wire) The team’s young Chilean rider, Nacho Cornejo, delivered a stellar performance, maintaining top-10 standings throughout the rally and securing an overall 7th place finish. Nacho showcased remarkable grit and determination, demonstrating his consistency across the stages. Since Stage 1,
Qualcomm Announces Quarterly Cash Dividend17.1.2025 15:00:00 CET | Press release
Qualcomm Incorporated (NASDAQ: QCOM) today announced a quarterly cash dividend of $0.85 per common share, payable on March 27, 2025, to stockholders of record at the close of business on March 6, 2025. About Qualcomm Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Our proven solutions drive transformation across major industries, and our Snapdragon® branded platforms power extraordinary consumer experiences. Building on our nearly 40-year leadership in setting industry standards and creating era-defining technology breakthroughs, we deliver leading edge AI, high-performance, low-power computing, and unrivaled connectivity. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority
Jefferies Clients, Shareholders and Employees Contribute $10 Million to Charities Supporting Los Angeles Wildfire Relief17.1.2025 14:00:00 CET | Press release
Jefferies announced today that it will donate $10 million to charities providing aid for first responders and the people and communities impacted by the wildfires across Los Angeles. The donation includes funds from Jefferies, voluntary contributions from its nearly 6,000 worldwide employees, and proceeds from the firm’s January 16 Doing Good Global Trading Day, which set aside 100% of net global trading commissions for charities. Rich Handler, CEO, and Brian Friedman, President of Jefferies, said: “We are so grateful for how the Jefferies network stepped up to support those in need in Los Angeles. These wildfires have inflicted heartbreaking devastation on communities and so many families, and we hope this donation will help deserving charities provide urgently needed relief.” Organization Charity Description Allocation Los Angeles Fire Department Foundation The LAFD is actively seeking funds to equip LAFD members battling wildfires with tools and supplies. $2,000,000 All Hands and He
SLB Announces Fourth-Quarter and Full-Year 2024 Results, Increases Dividend and Initiates $2.3 billion in Accelerated Share Repurchases17.1.2025 12:50:00 CET | Press release
Fourth-quarter revenue of $9.28 billion increased 1% sequentially and 3% year on year Fourth-quarter GAAP EPS of $0.77 decreased 7% sequentially but was flat year on year Fourth-quarter EPS, excluding charges and credits, of $0.92 increased 3% sequentially and 7% year on year Fourth-quarter net income attributable to SLB of $1.10 billion decreased 8% sequentially and 2% year on year Fourth-quarter adjusted EBITDA of $2.38 billion increased 2% sequentially and 5% year on year Fourth-quarter cash flow from operations was $2.39 billion and free cash flow was $1.63 billion Board approved a 3.6% increase in quarterly cash dividend to $0.285 per share Full-year revenue of $36.29 billion increased 10% year on year Full-year GAAP EPS of $3.11 increased 7% year on year Full-year EPS, excluding charges and credits, of $3.41 increased 14% year on year Full-year net income attributable to SLB of $4.46 billion increased 6% year on year Full-year adjusted EBITDA of $9.07 billion increased 12% year o
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom