Naga issues convertible bond
Lisa Marie Münster
| 10.03.2021
The Hamburg-based fintech will receive up to 25 million euros from the US fund Yorkville Advisors. It could already receive part of this in the short term.
Naga Group has closed a financing deal with US fund Yorkville Advisors. According to the deal, the start-up can raise 25 million euros in convertible bonds over the next three years, with eight million euros to be issued in the short term.
Naga offers a trading platform for financial transactions and investments. The fintech said it achieved a record 37,000 new signups in February 2021 and surpassed the one million mark in transactions for the first time.
"The funding gives us the boost and flexibility to be able to take the company to the next level," CEO Benjamin Bilski said of the funding. Going forward, Bilski has clear plans, "We'll continue to increase our spending on marketing and sales, especially given the new funding and the fact that we're growing profitably."
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Startup
2015
Hamburg
Naga
FinTech company focused on financial markets, virtual goods and cryptocurrencies.
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