NAGA Group Announces 90% Surge in Sales and Cross-listing in the US

NAGA Group AG, German fintech company, announced that it plans to cross-list its shares on the US market and reported its latest trading update.

According to the press release, NAGA reported that its sales for the first five months of the year reached €20 million. The numbers reached 90% increase compared to the same period in 2020, when it was €10.1 million.

The trading volumes of the company surpassed €100 million and reached a monthly record of €24 billion traded in May, registering a 167% YoY increase.  The platform reported over 155,000 new accounts joined until May 2021, more than the 122,000 registered for the entire 2020.

Commenting on the news, Benjamin Bilski, NAGA CEO, said: “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.”

With the demand for the shares of the Hamburg-based company increasing in Europe, NAGA also announced that its shares are now cross-traded publicly on the OTCQX Venture Market, making them available to North American investors.

“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”, Bilski added.