NAGA continues its strong growth trajectory with group sales reaching close to EUR 20 million as of May 2021, record trading volumes and announces cross-listing in the USA
- EUR 100 billion volume traded in 2021
- Revenue increase by 90% compared to last year
- NAGA shares now tradable in the USA
Hamburg, June 21th, 2021 - The NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for financial market trading NAGA.com, publishes its latest trading update and the cross-listing of its shares on the US market.
The company reports year-to-date unaudited group sales close to EUR 20 million, an increase of +90% compared to EUR 10.1 million in 2020 in the same period. Trading volume crossed EUR 100 billion, with a new monthly record of EUR 24 billion traded in May, an increase of +167% compared to the same period in 2020. More than 155,000 new accounts joined in 2021 which is already more than the entire year of 2020 (122,000) and a growth of more than +316% in the same period compared to 2020. Finally, transactions crossed 5 million in 2021, which is an increase of 127% compared to the same period in 2020 (2.2 million).
"This trading update marks 2 years since our management restructure, whereby I have had the opportunity to take over as CEO alongside my Executive Board colleague Michalis Mylonas to execute our growth strategy. It is exciting to see that compared to the same period in 2019, where revenue stood at EUR 0.9 million, we are now able to report a growth in revenue by more man twenty times. We will remain focused on growing our brand authority further and increase user base. Together with our new product launches such as NAGA Pay, our expanded crypto offering and improved platform experience, we are on track to hit the projections for 2021 becoming based on revenue, one of the strongest FinTech companies in Germany", said NAGA CEO Benjamin Bilski.
NAGA is also pleased to announce the Company's shares are now cross-traded publicly on the OTCQX Venture Market which makes the NAGA shares widely available to North American investors. Trading on the US OTCQX does not have an impact on existing NAGA's ordinary shares and no new ordinary shares were issued as part of the cross-trade. NAGA continues to rely on the announcements and disclosures it makes to Scale and does not have SEC reporting requirements. OTC Markets operates the world's largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-traded companies.
"We are truly excited to see The NAGA Group AG on the US Markets enhancing our visibility in North America. We expect increased liquidity and new investors participating to trade NAGA shares", adds Bilski
NAGA is an innovative fintech company that seamlessly connects personal finance transactions and investments through its social trading platform. The company's proprietary platform offers a range of products from stock trading, investments and cryptocurrencies to a physical VISA Card. Additionally, the platform allows for exchanges with other traders, provides relevant information in the feed, and autocopy features for successful members' trades. NAGA is a synergistic total solution that is easily accessible and inclusive. It provides an improved foundation to trade, invest, network, earn and pay.
The NAGA Group AG
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