NAGA Group Raises €22.7 Million in Equity Capital

NAGA Group AG, the provider of the social network for financial market trading NAGA.com, has raised €22.7 million (USD 26.7 million) in new equity capital.

Apeiron Investment Group and Igor Lychagov, founder of retail FX brokerage firm Exness, have participated in the latest financing round.

According to the official press release, Apeiron has entered into a share purchase agreement with its Elevat3 strategy, operating in partnership with Peter Thiel's Founders Fund, to purchase a block of shares from Fosun Group and is in negotiations to acquire additional shares from other shareholders.

These transactions are subject to regulatory approvals. In total and upon full completion, Apeiron is targeting a stake of approximately 22% in NAGA.

Additionally, the NAGA Supervisory Board is to be increased from four to five members at the upcoming Annual General Meeting. The company will propose to elect Christian Angermayer as a new member of the Supervisory Board. However, the meeting where such an increase will occur was postponed to October 11, as it had an original date set for September 23.

"We are delighted to welcome Apeiron with its Elevat3 strategy as a new strategic partner. We have worked very hard over the last few years and this partnership is an absolute milestone for us. I believe that NAGA's growth can be accelerated with the proceeds of the current capital increase and with the strategic input of our new shareholders." commented Benjamin Bilski, Founder and CEO of NAGA.