The Naga Group AG issues capital increase, raising EUR 34 million
A team led by Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, advised The Naga Group AG, provider of the NAGA.com social network for trading, cryptocurrencies, and payments, on another capital increase. With total proceeds of EUR 34 million, this has been the company’s largest equity funding round to date.
Naga will use the proceeds to accelerate customer growth, expand into new regions, and recruit new employees. In a strategic move, the company has also decided to offer a white-label software product to select partner companies around the world. Naga is thus expanding into the Software-as-a-Service space, adding a new revenue stream.
The Naga Group AG is a fintech company that connects personal finance transactions and investments through its social trading platform. The company's proprietary platform offers a range of products ranging from trading, investing, and cryptocurrencies to a physical VISA card.
The Heuking team led by Kuthe regularly advises Naga. Most recently, it advised the fintech company on a capital increase with issue proceeds of EUR 22.7 million in September 2021.
Counsel to The Naga Group AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets),
Anna Richter, LL.M.,
Linda Karl (all Capital Markets), all Cologne