The NAGA Group AG
- WKN: A161NR
- ISIN: DE000A161NR7
- Land: Deutschland
Nachricht vom 20.05.2020 | 13:55
The NAGA Group announces challenger bank project NAGA Pay. NAGA China and NAGA Pro are launched, supported by strong April figures.
DGAP-News: The NAGA Group AG
/ Key word(s): Monthly Figures/Product Launch
With NAGA Pay, NAGA will be launching its own challenger bank app, which for the first time combines mobile banking, trading, social trading and cryptocurrency trading.
"NAGA Pay is an ambitious project with great growth potential. In recent years we have gained a lot of experience in building a real-time trading platform with a clear monetization model across a wide range of asset classes. Our trading app and our cryptocurrency platform have processed millions of transactions. In parallel, our NAGA Card programme, which offers our customers a prepaid Mastercard and a European IBAN account, has shown very promising growth rates. We have also followed the projects in the multi-billion NEO-Banking / Challenger-Bank segment very closely and have created all the prerequisites to become part of this segment. Hence, we have decided to combine all our expertise in NAGA Pay and are currently developing a super app for mobile banking and investing. The entry into the payment
vertical underlines the FinTech character of our company and will offer us new customer acquisition and growth opportunities without losing our focus on the core business", says Benjamin Bilski, founder and CEO of The NAGA Group AG.
For more information and to register to the NAGA Pay waiting list https://www.naga.com/pay has been launched today.
The NAGA Pro model is already successfully practiced at NAGA. With pilot projects in Asia and Poland that started at the beginning of the year, over 30% of the total turnover can be attributed to the NAGA Pro pilots.
Finally, the company reports the preliminary results of April and the start of the project in China.
In April, NAGA achieved a strong revenue result of around € 2.2 million and a preliminary net profit of around € 0.6 million and therefore continued the strong growth and earnings momentum built in Q1 (Q1: revenues € 7.0 million, net profit €2.1m). In addition, a new record number of registrations was recorded in April, which can be seen as the foundation for further growth. NAGA is also delighted to report that the first transactions of the NAGA China project were processed during May, with management expecting further growth in the course of Q3 and especially Q4.
"We are fully dedicated to growth, we want to keep the momentum high and continue to show how much potential there is in NAGA's unique platform and our business model. Another focus of the next few months will be the optimization of acquisition costs, sustainable growth and, above all, the addition of new personnel, as we have just posted around 30 new vacancies,"concludes Benjamin Bilski.
NAGA is an innovative ﬁntech company that has developed a socially enhanced ﬁnancial system that creates a uniﬁed and seamless experience across personal ﬁnance and investing. Its proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical Mastercard and social investing features such as a Feed, a Messenger and Auto-Copy. NAGA is a synergistic all-in-one solution that's accessible and inclusive, and that provides a better way to trade, invest, connect, earn, acquire and pay, across both ﬁat and crypto.
|Company:||The NAGA Group AG|
|Hohe Bleichen 12|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1052143|
|End of News||DGAP News Service|
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