Naga makes 26 million euro turnover

Fintech Naga made more than 20 million euros in sales in 2020, which it says was a record year. This year, the turnover is to be doubled once again.

Last year, Naga turned over 25.9 million euros and generated an EBITDA of six million euros - a record turnover, the young company announced. In addition, the start-up from Hamburg doubled its number of users, customers paid in a total of 50 million euros - also a doubling to 2019.

"We see 2020 as an intermediate step to continue to grow strongly, which is why we also decided in Q4 to once again invest more in marketing instead of focusing on the EBITDA margin," comments CEO Benjamin Bilski on the preliminary figures.

Naga offers a platform for investments and financial transactions. Next year, the fintech aims to double the numbers again, targeting revenues of up to €52 million and EBITDA of up to €15 million. "We started 2021 with the strongest week in the company's history, recording over 200,000 transactions and €4 billion in trading volume, with revenues in seven figures," Bilski says.

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