NAGA raised $5 million euros in July 2020 as a part of the business expansion. Therefore, the business of NAGA might extend and users can get more benefits as they are getting now.
07 July, 2020 | AtoZ Markets – NAGA is a platform where investors worldwide can operate their trading activity in all trading instruments through one platform. It created a breeze between the fiat world and the cryptocurrency world by allowing people to trade and make social interaction.
What is the effect of 4.5 million fundraisers of NAGA?
Let’s get to know from the summary of the company.
NAGA is a fintech company that combines personal finance and investing in one platform. The company’s primary aim is to create a revolution by decentralizing financial technology by providing access to the best tools in the world. The company focuses on technology, resources, and support for every financial market trader to make a better trading decision. It provides a range of products from investing, trading, and cryptocurrencies through the physical MasterCard. Furthermore, it has several social investing features like trading, investing, and auto-copy.
NAGA is all in one solution that provides a way to trade, invest, earn, connect in both fiat and cryptocurrency.
NAGA offers a platform for traders to interact with their peers and discuss the current market condition through their personal, group and public chats. Through this platform, traders can invest more than 500 trading instruments like forex, indices, commodities, cryptocurrencies, and more. Besides the trading facility, traders can deal with both fiat and cryptocurrencies through NAGA MasterCard and NAGAX wallet.
History of NAGA
NAGA Group successfully IPOs in 2017 and managed to lead the world’s 18th most massive token sale. The company gathered almost 63,000 subscribers and raised more than $50 million after its debut on the Frankfurt Stock Exchange.
Later on, in just a few years, NAGA developed a social investing network with over 500,000 accounts. However, during the time, NAGA has faced many development procedures as mentioned below:
- October 2015- Yasin Qureshi and Benjamin Bilski founded NAGA as a market tool for every trader. At that time, NAGA introduced its first social trading platform, NAGA Trader.
- February 2016- NAGA managed to secure funding round by Hauck & Aufhäuser, one of the oldest private banks in Germany. Furthermore, NAGA Trader added copy trading features that allow traders to copy other traders’ activity.
- November 2016- Switex (now NAGA Virtual) enters a joint venture with Deutsche Boerse, an international exchange organization and innovative market infrastructure provider.
- July 2017- NAGA Group completed the fastest IPO in Germany with NAGA Stock on Frankfurt Stock Exchange. Later on, it reached an ROI of 260% of the issue price.
- December 2017- NAGA raised 50 million US dollars from the token sale, shattering the project’s target goal of $30 million for NAGA Coin.
- November 2018- The digital asset exchange of NAGA has been deployed for beta testing with 0% trading fees.
- February 2019- From this time, NAGA users can manage their funds and pay with their trading profits from NAGA Trader with the free NAGA Mastercard and personal IBAN for SEPA transactions.
- July 2020- NAGA raised 4.5 million euros by issuing new shares, and mid-July will add further 500,000 euros.
What is NAGA Coin?
Naga coin is an Ethereum based cryptocurrency that was created for gaming and virtual goods exchanging.
NAGA focuses on the improvement of financial service and as a solution for unbanked people. Among the 4 major directions of NAGA, Naga coin is one of them. Naga Coin, Naga wallet, Naga Trader, and SWITEX is a complete crypto trading solution for a trader.
Using the Naga Coin, investors can invest in all financial asset classes on the NAGAX platform. This community has almost 600000 people and billions of trading volume.
Why Should People Use Naga Coin?
Cryptocurrency is very new in the investment world. However, many crypto coins have been accepted by thousands of people. The main focus of cryptocurrency is to people aware of safety. Furthermore, people now know that they can keep their money in the crypto wallet without letting them know other people.
Naga Coin is Unbanked
There are billions of people in the world who cannot access the financial sectors. Even if people get themselves involved in the financial sector, they have to go to the bank.
That means, people require a third party to process their investment activity, which is sometimes lengthy and insecure.
Naga Coin is a solution for the people who don’t want to go to the bank or don’t have the ability to open a bank account. Instead of going to a bank, you can do all transactions through a cryptocurrency wallet.
Safety and Data Storage
There are many well-known cryptocurrency wallets in the world from where you can exchange one cryptocurrency to another. Furthermore, many brokers allow you to trade most of the financial instruments, including forex, commodity, cryptocurrency, and stock.
However, it is often difficult to find a platform where you can do all of your investing activities.
NAGA is focusing on a platform that would be an unlimited solution for investors, and Naga coin is a part of it
If you are a trader, you would know how many times you have to pay fees. It is often costly to provide charges on deposit, withdrawal, and trade execution.
On the other hand, if you deal with a bank, you know that your bank has a currency fee. You have to pay taxes on your profits from stocks. All of these costs are not clear to every trader.
Sometimes giving such fees is irrelevant and makes the investment activity difficult. Therefore, NAGA is a platform where you can trade with Naga Coin with all major cryptocurrencies. Furthermore, it is often exciting to trade most of the financial market through Naga Coin.
It is the main challenge that most of the cryptocurrency face. If no one is interested in the Coin, there is no meaning of its sustainability. Furthermore, NAGA raised $5 million in July 2020, which is also exciting for Naga coin users.
As a part of making Naga Coin accepted by people, NAGA has taken several benefit schemes such as
- Discount on Exchange fees.
- Loyalty Reward
- Referral Program
- Social Trading
- Business Expansion
NAGA Raised Additional Growth Capital
NAGA has been providing high earnings and business expansion in China and Southeast Asia. Therefore, the management has decided to raise the business capital as a part of the business expansion.
The company raised the cash capital with subscription rights for shareholders. The management issues 2,000,000 new shares at a subscription price of EUR 2.52 per share. Therefore, the existing shareholders can subscribe to new shares for 39 old shares. The subscription period has started from 3 July 2020 and is expected to end on 15 July 2020.
The company already raised 4.5 million euros by issuing new shares, and mid-July will add further 500,000 euros. According to the company, the capital is expected to flow into marketing. As the business is expanding, the management is focusing on more users’ involvement in the service.
The company published its past financial year results of 2019 and resulted in high one-time expenses, particularly in severance and compensation payments. In 2019, the group revenue of NAGA had declined from EUR 4,222 thousand to EUR 3,897 thousand with a negative EBITDA of -9,167 thousand. Therefore, the management sees 2019 as an exhausting restructuring. Later on, in 2020, the company focused on marketing and combined a significant decrease in costs.
“The result of the 2019 financial year compared to 2020 again underpins the success of the realigned company strategy. This momentum allows us to position NAGA for global expansion and sustainable growth fully,” Benjamin Bilski, the founder of NAGA, added.
Why Investors Choose NAGA?
After the COVID-19 pandemic, fintech companies are growing as people focus on web platforms where NAGA is an almost all-in-one platform.
The company has many reasons to say that it will grow in the future as it is undoubtedly capable of meeting what investors seek.
The NAGA platform is user-friendly, where trades can get help and answers to their questions quickly. Furthermore, there are many trading tools available for traders and a lot of features that can enhance the social trading experience.
NAGA integrated with TradingView. Therefore, there are live prices, patterns, and personal templates to make trading very handy and perfect.
These days, investors seek a platform that is accessible from all platforms. NAGA allows traders to access the trading platform from windows, android, and iOS that quickly access the platform.
Another reason for the solid growth of this platform is the opportunity of multi-currency transactions. NAGA allows us to invest with 5 fiat (USD/ EUR/ GBP/ PLN/ CHF) and 4 crypto-based trading accounts for all investors.
As we know, the financial market is full of risks; therefore, NAGA provides several risk management tools and education material that help traders make better trading decisions.
Last but not least, the all-in-one trading solution that most of the traders look at. If you want to trade forex, cryptocurrencies, stocks, indices, and enjoy social trading and gathering at a time, NAGA is the only platform to allow you.
NAGA is an excellent platform that most investors seek. It is an all in one solution for investors who want hassle-free trading with minimum cost in all trading instruments.
Furthermore, NAGA is backed by the people who are crypto enthusiastic and expert in blockchain technology. As a result, the business was expanding and became much popular in 2020.
NAGA raised $5 million euros, which is exciting for investors as it focuses on business expansion around the world. The more people get involved in NAGA, the more flexible it will be.
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