THE NAGA GROUP AG
EQS-News: The NAGA Group successfully merges with Key Way Group
EQS-News: The NAGA Group AG
/ Key word(s): Mergers & Acquisitions/Merger
The NAGA Group successfully merges with Key Way Group
The merger of NAGA and CAPEX.com has formed one of the world's leading neo-brokers with around 1.5 million users in over 100 countries. The migration of existing users from Key Way Group’s trading platform CAPEX.com to the NAGA ecosystem will begin in the next few days. As a result, existing CAPEX users can now enjoy numerous new features and extensive service enhancements that clearly set the NAGA app apart from the competition. The NAGA Group expects the migration of CAPEX.com users into its own platform, as well as other operational and licensing synergies to generate total cost savings of up to EUR 9.0 million (previously announced as USD 10.0 million) per year. As a first step, the use of common technology for all Group users is expected to yield a positive EBITDA effect of around EUR 4.0 million per year for the Group as the migration becomes effective in the coming months. Further efficiency gains are to be achieved in the areas of regulatory overheads, personnel and trading costs as well as customer acquisition costs. The provision of features such as social trading, neo banking, and crypto trading will increase the lifetime value of CAPEX.com’s existing users and thus the profitability of The NAGA Group. NAGA is a leading German Fintech Company offering a SuperApp with the aim to merge social trading, investing in stocks, crypto, and neo banking into one unified platform, powered by its proprietary advanced technology. Operating in over 100 countries with 9 local offices, NAGA offers a diverse range of services for both fiat and cryptocurrencies. The platform features a physical VISA card with fiat and automatic crypto conversion plus cashback, dynamic social feeds, and advanced autocopy functions, enabling users to replicate the strategies of successful traders. Designed for a global community, NAGA provides an inclusive and efficient financial ecosystem for personal finance and trading. The NAGA Group AG
29.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | The NAGA Group AG |
Hohe Bleichen 12 | |
20354 Hamburg | |
Germany | |
E-mail: | info@naga.com |
Internet: | www.naga.com |
ISIN: | DE000A161NR7 |
WKN: | A161NR |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1978019 |
End of News | EQS News Service |
1978019 29.08.2024 CET/CEST