NAGA is a German FinTech that operates trading platforms for financial markets and virtual goods and recently completed a token sale for its NGC token. Core products and initiatives include its trading platforms, a forthcoming NAGA wallet, integrations with SwipeStox and Switex, and a planned NAGA debit card. The company raised more than $50 million from over 63,000 participants in the token sale, well above its $30 million target, and is preparing token distribution and an exchange listing. NGC is scheduled to debut on HitBTC on December 22, 2017, and the NAGA wallet is slated for launch in April 2018; other roadmap items include making NGC the base currency for SwipeStox and integrating NGC into Switex. The NAGA Group is publicly listed on the Frankfurt Stock Exchange (IPO July 10, 2017), reports a market cap above €200 million, millions in reported revenues, and processes over $4 billion in trading volume every month. The company has a team of more than 120, holds various EU financial licenses including an asset management license, and is backed by FOSUN with support from Hauck & Aufhäuser. The Naga Group AG is the Hamburg-based maker of the social trading app SwipeStox. Led by founder and CEO Yasin Sebastian Qureshi, the app offers professional and casual users the opportunity to trade foreign currency and securities in a transparent way. The company holds its own EU asset management license and provides a framework of financial services ranging from brokerage licensing to legal support. Naga operates facilities in multiple European locations, including Hamburg, Frankfurt, London, Sarajevo and Nikosia. The company intends to use the Series A funds to expand the reach of SwipeStox. It is also backed by Hauck & Aufhäuser, one of Germany’s largest private banks. The Naga Group AG is developing SwipeStox, a social trading app intended to offer trading of foreign currency and securities to both professional and casual traders. Led by founder and CEO Yasin Sebastian Qureshi, the company develops, designs and markets fintech products spanning brokerage licensing to legal support aimed at international communities. The Naga Group operates facilities in four countries across Europe (Hamburg, Frankfurt, London, Sarajevo, Nikosia) and holds a European Union Asset Management license. Its core product focus is on enabling social trading through SwipeStox while leveraging its brokerage and regulatory capabilities. The company received a strategic investment from Hauck & Aufhäuser, a Frankfurt-based private bank, as part of its financial and strategic development.

Total raised

$63M

Funding rounds

3

Latest round

Initial Coin Offering

Latest activity

Dec 2017