Naga makes 26 million euro turnover

Fintech Naga generated sales of more than 20 million euros in 2020, which it says was a record year. Turnover is set to double again this year.

Last year, Naga generated a turnover of 25.9 million euros and an EBITDA of six million euros - a record turnover, as the young company announced. The Hamburg-based start-up also doubled its number of users, with customers paying in a total of 50 million euros - another doubling compared to 2019.

"We see 2020 as an intermediate step towards further strong growth, which is why we decided to invest even more in marketing in Q4 instead of focusing on the EBITDA margin," commented CEO Benjamin Bilski on the preliminary figures.

Naga offers a platform for investments and financial transactions. The fintech aims to double its figures again in the coming year: it is targeting revenue of up to 52 million euros and EBITDA of up to 15 million euros. "We started 2021 with the strongest week in the company's history and have recorded over 200,000 transactions and a trading volume of 4 billion euros, with sales in the seven-digit range," says Bilski.

Naga plans to launch in Australia this year. In addition, further licenses for the banking business are to be applied for. In addition to the trading platform, the digital bank will also play a role in the future.