Capex.com to Merge with NAGA Group

Capex.com, a global multi-asset brokerage firm, has agreed to merge with NAGA Group, a social trading-focused fintech company, in a non-cash capital increase. The deal is expected to close in the second quarter of 2024.

CAPEX.com and its Founder and CEO, Octavian Patrascu, will contribute $15 million in equity into the joint venture, of which Octavian himself will inject $9 million through convertible bonds. In addition, he will serve as Group CEO of the combined company.

The combination of the two companies is expected to create a powerful and profitable fintech platform. The joint group will hold eight licenses globally and is estimated to generate $90 million in 2023, with earnings before interest, taxes, depreciation, and amortization (EBITDA) of $6.5 million. In addition, the joint group will have an annual trading volume of approximately $300 billion.

"I am truly excited about this union as in today's market, consolidation can help accelerate our roadmap, objectives and give us the dimension needed for true innovation," commented Octavian Patrascu. "NAGA and CAPEX.com have a multitude of synergies and that is why I am confidently investing my own money in this transaction. I believe we can reach our targets and am ready to embrace this new challenge to set a new benchmark in the industry."

Michael Milonas, the CEO of NAGA, added, "I am particularly pleased with this development as it unlocks value under the leadership of Octavian and becomes the cornerstone of NAGA's future success."