Naga issues convertible bond
The Hamburg-based fintech is receiving up to 25 million euros from the US fund Yorkville Advisors. It could already receive part of this in the short term.
The Naga Group has concluded a financing deal with the US fund Yorkville Advisors. According to the deal, the start-up can raise 25 million euros over the next three years in the form of a convertible bond, with eight million euros to be issued in the short term.
Naga offers a trading platform for financial transactions and investments. According to its own information, the fintech achieved a record 37,000 new registrations in February 2021 and surpassed the million mark in transactions for the first time.
"The financing gives us the impetus and flexibility to take the company to the next level," says CEO Benjamin Bilski about the financing. Bilski has clear plans for the future: "We will continue to increase our spending on marketing and sales, especially in view of the new financing and the fact that we are growing profitably."
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