Apeiron Joins the Largest Equity Financing Round to Date Held by NAGA
The provider of the social network for trading expects to hit 100% growth in 2021 after the financing round.
The NAGA Group AG (XETRA: N4G), a copy trading-focused broker, announced on Thursday its most significant equity financing round to date by welcoming Apeiron Investment Group Ltd, a private investment company owned by Christian Angermayer, who is an entrepreneur and investor, and Igor Lychagov, the founder of brokerage firm Exness.
According to the press release, Apeiron Investment Group also entered into a share purchase agreement with its Elevat3 strategy, operating in partnership with Peter Thiels Founders Fund, to purchase a block of shares from Fosun Group. As part of the deal, Hauck & Aufhäuser acted as the sole book-runner in the transaction between NAGA and Apeiron. That said, Apeiron looks forward to allocating a stake of around 22% in NAGA, with the group raising $27 million in direct equity.
“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. Already, NAGA has more than 1 million registered accounts, operates in more than 100 countries, and is on track to grow revenue by more than 100% in 2021 compared to 2020. And that‘s just the beginning. 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,” Benjamin Bilski, Founder, and CEO of The NAGA Group AG, commented.
Supervisory Board Members Increase
Also, after the financing round, the groups Supervisory Board is set to be increased from four to five members, the announcement reads. However, the meeting where such an increase will occur was postponed to October 11, as it had an original date set for September 23.
“NAGA is one of the fastest growing neo-brokers in the world. The company has impressively proven that combining social media, investments, cryptocurrencies, and payments on one platform attracts a new generation of investors who are used to a simple user experience and all services just a tap away. This retail investment market is growing rapidly and offers tremendous potential. I am very much looking forward to working with the founders, the board, Igor and Fosun,” Angermayer pointed out.