startypsBusiness Wire India
- Record volume of €33bn in Q3 driven by 1.6M transactions
- More than 40,000 new accounts added to the platform
- Official NAGA PAY Launch announced for November 2020
The NAGA GROUP (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for investing NAGA.com, posted another record quarter for 2020 with record sales of €7.1M (Q3 2019: €1.17M) and a strong EBITDA of €1.9M (Q3 2019: -€1.04M), based on preliminary figures. With close to 40,000 new accounts (Q3 2019: 7,100), the user base grew by 70% to the previous quarters, while the monthly trading volume in Q3 2020 jumped by 22 % well over 33 billion compared to Q2. (Q3 2019: €13 Billion) driven by a record no. of 1.6 million real-money transactions (Q3 2019: 947,000).
"We are happy with Q3. Especially in light of the seasonality and the lower client activity during summer, we once again have shown that our growth strategy pays off and is sustainable. Also, we have delivered a very solid EBITDA ratio despite increased expenses in growth. Given the growth in our active user base, we managed also to improve our platform experience and internal processes significantly to ensure further scalability. Looking at all our metrics it's clear by now that NAGA can grow even without the "COVID-effect", states Benjamin Bilski, CEO of NAGA.
The company also reports the launch of first-of-its-kind digital multi-webinars via the Streaming provider "Zoom". On 30th of September NAGA hosted the "Alpha-Event" which welcomed 1,500 students from 16 countries, mainly from the African and South-East-Asian region, who were connected simultaneously. The event was hosted by the world-renowned educator Andreas Thalassinos who joined NAGA recently. Given its success and the new in-house digital TV studio by NAGA, the "Alpha Trading Event" will be followed from now on by regular digital workshops and further events in the future to offer high-quality education for beginners in trading.
"Personally I am extremely proud of our new fully-digital educational concept. Given the times we are in, it is truly amazing to see over 1,000 people being all connected in real-time, interacting and learning about the financial markets together. These digital trainings are especially appreciated by our clients from South-East Asia and Africa. In fact, people all around the globe seek high-quality educational content which can be consumed from home and is presented in an interactive format. Together with our Director of Education Andreas Thalassinos we have set the benchmark for the next-generation financial market education. This will result in more global user growth to NAGA and empowers our vision to become not only a global community for investing, but also for an innovative provider of digital financial education", comments Benjamin Bilski. The video highlights of the "NAGA Alpha Webinar" can be found here: https://naga.com/alpha-trading-webinar
Additionally, NAGA announces the official release for its challenger Bank "NAGA PAY". On November 15th NAGA Pay will be available in the Google and Apple Appstore. The new payments startup by NAGA has received thousands of pre-registrations and will be a significant growth catalyst for NAGA's FinTech platform. The pre-registration is still available under naga.com/pay.
Given its strong growth in 2020, the launch of various initiatives and the prospects of opening the growth markets Australia and South-Africa while seeing very promising numbers from its China and South-East-Asian business, NAGA is well prepared for the current fourth quarter and eyes on 2021.
"The major rationale after Q1 was to enlarge our customer base, invest in our brand exposure and set up the company for scalability. We have a lot of promising initiatives in the pipeline such as the Australian and South-Africa market opening, we see a growing business in China and we have just welcomed over 50 new talents to our headquarters to support operational excellence throughout all departments. As mentioned in our Annual General Meeting last week: NAGA has its best cash-flow situation, highest average monthly volumes and the highest number of active users (as per September 2020) since inception. For the next quarters we need to invest into brand exposure, marketing and grow our team to offer a world-class trading experience by ensuring operational stability. We are happy to leave the past noise behind and take this company to its next stage, revenue wise but also valuation wise", concludes Bilski.
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About NAGA
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.
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Language: |
English |
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Company: |
The NAGA Group AG Hohe Bleichen 12 20354 Hamburg Germany |
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E-mail: |
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Internet: |
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ISIN: |
DE000A161NR7 |
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WKN: |
A161NR |
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Indices: |
Scale 30 |
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Listed: |
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange |
View source version on businesswire.com: https://www.businesswire.com/news/home/20201005005362/en/
