NAGA Raised Another €34 Million Through a Fresh Share Placement

Fazzaco learned that NAGA Group, the provider of the social network for financial market trading NAGA.com, has completed a fresh share placement, raising additional €34 million in growth capital.

The latest placement consisted of 4,223,50 shares at €8 per share. It was placed with European financial investors, along with qualified investors in Germany and other selected jurisdictions excluding the United States. Hauck & Aufhäuser acted as Sole Global Coordinator and Sole Bookrunner for the transaction.

The company added that the new capital will be used to further finance global growth and enhanced marketing measures. The latest funding brings the 2021 total to more than €64 million in capital raised for NAGA – quite a warchest to pursue its expansion goals.

Earlier this year, NAGA has raised €22.7 million in equity capital. Apeiron Investment Group and Igor Lychagov, founder of retail FX brokerage firm Exness, have participated in the financing round.

Last month, the company has posted its financials for the third quarter of 2021, showing a significant jump in revenue. More specifically, revenue for Q3 2021 came in at $21 million, 157 percent and 38 percent higher year-over-year and month-over-month, respectively.